Credit Suisse execs slash their own bonuses

Executives at Credit Suisse slashed their bonus pay by 40 percent following an annual loss for the second straight year.

The proposal by CEO Tidjane Thiam and 11 other top managers was accepted by the firm's board.

"I hope that this decision will alleviate some of the concerns expressed by some shareholders and will allow the executive team to continue to focus on the task at hand," Thiam wrote in a letter to investors.

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