Credit Suisse's chief executive has announced he is waiving part of his bonus after the bank reported its first full-year loss since 2008.
"I have asked the board of directors for a significant reduction in my bonus," Credit Suisse CEO Tidjane Thiam said in a statement released on Sunday. The announcement was first reported in German newspaper Sonntagszeitung on Sunday.
"Within the management team, the cut is greatest in my case. I cannot demand sacrifices from others and not make any myself," he said, adding that his bonus had been "substantially reduced" although he did not elaborate further on the amount.