Credit Suisse execs take bonus cuts of 40% after outcry

Geneva

CREDIT Suisse's chief and other top executives offered on Friday to have their bonuses slashed by 40 per cent, following investors' concerns over the size of their proposed compensation packages.

Credit Suisse chief Tidjane Thiam and the bank's executive board proposed that the "long-term incentive awards for 2017 and short-term incentive awards for 2016... be reduced by 40 per cent each," according to a statement.