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Swiss bank executives cut bonuses by 40% to avoid revolt

Swiss bank executives cut bonuses by 40% to avoid revolt

Saturday, April 15, 2017, 5:00 PM

Credit Suisse bosses have cut their bonuses by 40% in the hope of avoiding an embarrassing protest by shareholders and politicians at the bank’s annual meeting. The bank’s executives, led by chief executive Tidjane Thiam, had proposed paying themselves bonuses totalling 78m Swiss francs (£62m) even though the Swiss bank lost SFr2.7bn last year and has been fined $5.3bn (£4.2bn) by the US authorities.
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