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Credit Suisse cuts Tidjane Thiam’s pay in wake of ‘spygate’

Swiss bank also warns of the impact of coronavirus on its business performance this year

Credit Suisse chief executive officer Tidjane Thiam
Credit Suisse chief executive officer Tidjane Thiam Photo: Getty Images

Tidjane Thiam’s pay for his final year in charge of Credit Suisse was slashed in the wake of a spying scandal that engulfed the Swiss bank and ultimately cost the chief executive his job.

In its annual report published on 25 March, Credit Suisse said Thiam was awarded total remuneration for 2019 of 10.7m Swiss francs (£9.1m), 15% lower than the previous year.

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