According to recent news articles, Credit Suisse considers implementing a bonus clawback from 2022 onwards in the compensation scheme because of the collapse of Archegos. Is compensation for M&A/Investment Bankers affected? Are all ranks affected? Does anyone have some information about that (maybe from the inside)?
To be honest this sounds like a huge reason to avoid joining Credit Suisse when receiving offers from other BBs/EBs
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In my opinion, I doubt they'll do that because they know if they lower comp then everyone would quit and go to another bank
Nevertheless, I’ll be following the thread as I’m very interested
https://www.bloomberg.com/news/articles/2021-12-03/credit-suisse-plans-…
This is one of the more recent articles but it only refers to more senior employees.
Earlier this year, there were also a plenty of sources discussing clawbacks in a more broader sense for bankers at Credit Suisse. I was just wondering if someone has more/better insights.
Not sure why I was thrown monkey shit but okay. I’m sadly not qualified to speak on the subject not can I give proper insight. I will be following the thread as CS is where I’m gonna be starting my career at and want to know what’s going on.
Wouldn’t be a good idea, will create a mass exodus. Bank already having a hard time retaining employees!
CS has already had MD level clawbacks for a few years.
no coincidence there was an exodus of talent ASAP after Archegos
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