'Exodus over bonus curb won't happen'

Brady Dougan, the chief executive of Credit Suisse, warned yesterday that some of the bank's 6,000 London employees may choose to move to Zurich or New York to avoid strict new limits on bonuses planned by the European Union. But he does not see it as a huge problem.

"People are always writing about bankers leaving. In the end, not so many tend to move and I think that will also be the case this time," Mr Dougan told Germany's Handelsblatt newspaper.