Credit Suisse bosses slash bonuses 40 percent

Move is aimed at heading shareholder rebellion over pay at Swiss bank’s looming AGM

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 forthcoming annual meeting.

The bank’s executives, led by chief executive Tidjane Thiam, had proposed paying themselves bonuses totalling 78m Swiss francs (£62m) despite the Swiss bank losing SFr2.7bn last year.

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