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Breakingviews 3 Min Read The logo of Swiss bank Credit Suisse is seen at a branch in Winterthur, Switzerland, November 2, 2017. LONDON (Reuters Breakingviews) - Investment bank bonuses rarely act as the first line of defence. Many lenders continued to make generous payouts in 2009, even though taxpayers had just bailed them out. Credit Suisse Chief Executive Thomas Gottstein may take a different tack out of necessity. It could serve as an overdue test of the market for bank talent. The Swiss bank set aside less than usual for bonuses in the first quarter, the Financial Times reported on Monday. That helped add about $600 million to its pre-tax profit, buffering the near-$5 billion hit from the collapse of hedge fund Archegos. Roaring markets and a boom in special purpose acquisition companies also contributed. As a result, Credit Suisse’s first-quarter loss will be less than $1 billion.

New yorkUnited statesHong kongCity ofUnited kingdomThomas gottsteinMorgan stanleyCredit suisseDeutsche bankReuters breakingviewsSuisse chief executive thomas gottsteinFinancial timesCorporate eventsBanking amp investment services trbc level 2Banks trbc level 4Banks nec trbc level 5