Credit Suisse halved the amount it spent on guaranteed bonuses in 2018. This is in contrast with Swiss rival UBS, which hiked such payments and hired several big-name dealmakers.

Across the bank, the number of employees who received locked-in bonuses fell by 25% to 133, and the amount of money awarded to those people was chopped by 51% to 59m Swiss francs, according to Credit Suisse’s annual accounts.