Brady Dougan, the chief executive of Credit Suisse, faced 1,750 shareholders this morning at the bank’s annual general meeting in Zurich, amid intense scrutiny of pay and performance across the investment banking industry.

While the Swiss bank may have reported weak investment banking figures - a "disappointing" Sfr79m ($87m) pre-tax profit last year - it was unsurprising that he highlighted the progress the Swiss bank has made in aggressively adapting to the new economic and regulatory environment.