Credit Suisse to Pay Upfront Cash Bonuses to Senior Staff
- Managing directors, directors get some variable pay up front
- Staff must repay pro rata if they leave within 3 years
This article is for subscribers only.
Credit Suisse Group AG will pay its senior bankers an upfront cash award again this year, as executives attempt to incentivize staff to stick with the troubled lender as it undergoes a broad restructuring.
Managing directors and directors in most locations will be paid the cash component of their variable 2022 compensation straight away, according to an internal memo obtained by Bloomberg. Recipients would need to repay the funds proportionally should they leave the bank within three years, according to the memo. The deadline to sign up for the upfront payment is Jan. 30.