The troubled Credit Suisse is keeping its investment bankers on board with high retention bonuses. That seems shocking, but the bank is in a dilemma. It’s better to ask how the investment bankers were able to establish such a strong position in relation to customers and bosses.
1.2 billion francs: That’s how much money the lurching Credit Suisse (CS) put into the bonus pot for its employees from January to September 2022. The sum is the same as in 2020, but today the big bank is in the middle of a painful savings and restructuring program and has to raise 4 billion francs in fresh capital.