Credit Suisse group chief executive Brady Dougan and the rest of the Swiss bank’s executive board received 35% less compensation on average last year, partly due to the shock trading writedowns confirmed today.

The 13 members of the bank’s executive board during last year, including former chief executive Oswald Grübel who stepped down in May, received Sfr162.1m (€103.6m) in combined compensation last year, according to Credit Suisse’s annual report published today. The eight members on the board the previous year had shared Sfr153m.