Swiss join calls for bank pay reform

Jean-Pierre Roth, chairman of the governing board of the Swiss National Bank, has urged a complete rethink of commercial banks' corporate governance and pay schedules in the wake of the credit crisis and recent trading scandals.

Roth said bank should tighten internal governance rules, which he said were essential to avoid traders taking reckless risks. Banks should reform their pay structures in the wake of the subprime crisis.

"For a financial centre like ours - which includes international ba

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