Credit Suisse cuts bonuses following Archegos loss: FT
https://www.reuters.com/article/us-credit-suisse-…
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https://www.reuters.com/article/us-credit-suisse-…
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Across the board or In their investment management / s&t divisions ?
You can thank MS and GS for this too.
You can be first, be smarter, or cheat to get ahead. Should have been first at minimum.
Imagine if CS workers start lateraling to GS. That would be hilarious: first GS basically makes you offer a raise to your employees after the report comes out, then they leave you to hang dry in the Archegos fiasco and now they make you piss off you overworked staff as you won’t be able to keep your word.
Wonder if this is firm-wide or only in groups with proximity to the blow up
Worth noting, they sent us the official letters for the raise and $20k bonus last week (~2 weeks after Archegos), so those arent canceled
Have 2020 bonuses been paid, or will these be the ones affected? Or will it be 2021 bonuses (next year)?
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