TNBiz (TNBiz)
Markets  |  March 02, 2013 18:43:49

Swiss planning revolution: Apparently squeezing exorbitant salaries of managers

If the project is approved, it could slow the gradual escape traders from London to Zurich and Geneva.

The impetus came back in 2008 Senator and businessman Thomas Minder, who proposed to regulate salaries and give more power to shareholders of companies traded on the exchange. Throughout tried a proposal to referendum. If the Swiss say on Sunday "yes", touches measure all economic sectors, including finance, from which came the wealth and glory of the country Helvetic cross.

Recent polls show that 65 percent of the population agrees with the change of laws. Proponents of regulation have recently helped the new report that Daniel Vasella, the outgoing director of pharmaceutical giant Novartis will receive severance pay in the amount of 72 million Swiss francs (about 1.52 billion dollars).

Swiss business leaders are the best paid in Europe, before the British and the Germans. Novartis is still extreme, according to Swiss Television is there highest salary 270 times greater than the lowest.

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