Swiss bank executives cut bonuses by 40% to avoid revolt
Swiss banking major Credit Suisse's executives have cut their bonuses by 40% in an attempt to avoid a protest by shareholders and politicians at the bank's annual meeting. The bank's executives, led by CEO Tidjane Thiam, had proposed paying themselves bonuses totalling Â£62 million (â¹500 crore) even though the bank posted heavy losses. The bank had earlier defended the bonuses.