lunge is aimed at avoiding shareholder rebellion over pay at Swiss banks looming AGM Credit Suisse bosses have sever their bonuses by 40% in the hope of avoiding an embarrassing protest by shareholders and politicians at the bank’s annual meeting.
The banks 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 final year and has been fined $5.3bn (£4.2bn) by the US authorities for its role in the subprime mortgage crisis.
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Source: theguardian.com