Credit Suisse delays compensation day for some bankers- Bloomberg News
Reuters
Published Feb 07, 2023 00:26
(Reuters) - Credit Suisse (SIX:CSGN) Group AG is delaying a compensation day for some of its bankers, Bloomberg News reported on Monday, citing people familiar with the matter.
The bankers — mainly at managing director or director levels — were notified on Monday that meetings set for Feb. 7 had been cancelled, pushing back conversations on bonuses, according to the report. The talks may be rescheduled in the coming weeks.
Credit Suisse did not immediately respond to a Reuters' request for comment.
The development comes as Credit Suisse battles mishaps, including a $5.5 billion loss on U.S. investment firm Archegos. It also froze $10 billion worth of supply chain finance funds linked to insolvent British financier Greensill.
Bloomberg News had reported in January the Swiss bank was considering a 50% cut to its 2022 bonus pool.
In December, it successfully completed the final part of a 4 billion Swiss franc ($4.31 billion) fundraising and said its liquidity levels had been boosted.
($1 = 0.9279 Swiss francs)
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Written By: Reuters
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