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Top Bank Managers Lose Bonuses in Sweden as Scandal Dictates Pay

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The most senior managers working at Sweden’s biggest mortgage bank won’t be getting bonuses to reflect last year’s bumper profits.

Swedbank AB’s board wants to send a clear message that a bank being investigated for money laundering can’t reward its highest-ranking people, no matter how much business they bring in. So it’s withholding payments into two bonus programs for 170 top managers.