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Barclays boss in favour of longer bonus deferrals

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Barclays Deputy Chairman Gerry Grimstone said he favours withholding bankers’ bonuses paid in stock for up to a decade to improve accountability, though London’s status as a global financial hub would be hurt if compensation was cut too much.

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C Suisse names new asset management heads

Credit Suisse has named Bill Johnson as head of Asset Management Americas and Michel Degen as head of Asset Management Switzerland and EMEA (Europe, Middle East and Africa), according to a memo seen by Reuters and confirmed by the bank.