Credit Suisse closing down IBD? More senior departures...

Will Archegos have a negative impact on CS' business? Yes. Will it threaten their status as a bulge bracket or cause them to dramatically shrink their advisory practice? No, at least not in the near term. Assuming your other options were DB/UBS I think CS is still a much stronger firm - even post Archegos. I think there will be longer term implications that would merit consideration if you were thinking about staying at CS for 5-10+ years but I don't think recent events will impact your experience as an analyst at CS. I work at CS and haven’t heard any such rumors.

who are the recent senior departures? 

Their top Sponsors rainmakers (e.g. Malcolm Price) are all still there, which accounts for the majority of their IB revenue. They’re also killing it this year overall in the IBD, and the CEO has communicated that there is no intention to sell the IB.

No, that’s not happening in major markets.

salaries just got bumped to 100k

Tech M&A is on pace for best year this decade.  
(Neither of the big tech M&A MDs left - David Wah and Steven Geller)

Lev fin still in great shape (Cohen and David Miller)

sponsors, key franchise, doing great (Malcolm price still around)

ECM franchise is extremely strong and has been bringing in great revenue even excluding SPACs

Given the uncertainty, I would personally not go there and take any other BB over CS

Think of it this way, if there's an airline that's rumoured to go bust / close down (which might not be true at all), you would still never buy a ticket with them. Might be difficult to win business

This is very naive and there are multiple threads on it.

There haven't been any departures for a few weeks, it appears exodus has been stemmed. After that, very key figures remain (as discussed above - Price, Wah, Geller, Cohen, Niron Stabinsky, David Hermer).

Why would these rainmakers who were receiving poaching offers from every bank across the street (including better ones) stay? Because the franchise will remain very strong in its key areas

I work at CS and doesn't seem like you work here. doubt anyone who would have material news would tell a random analyst about it. and if you actually worked here and paid attention, you would've seen that they've hired a few senior bankers from other banks to fill out the roles of departures. IB generates rev for the bank and it's highly unlikely they would scale down materially

.

CS analyst checking in. Reiterate everything said in this thread that the “demise of the IBD” is so wildly naive and overblown that it’s hard to put into words how dumb it is. The Investment Bank is having a record year, my group is blowing the doors off of our prior revenue records, we had a handful of crappy MDs and Ds leave that were generally the worst to work with and everyone is happy they’re gone. Bonuses were fat as hell and another pay raise is on the way, and deal flow has continued to be strong and the culture in the office has been very chill - most leave at dinner time and log on from home after hitting the gym - weekends have been very respected following the GS13 bonanaza. My friends at other BBs want to kill themselves with how bad they’re being grinded, couldn’t pay me to go work at a place like BAML right now especially when exit opps are very much the exact same. If you take a job at DB or UBS over CS you’ll get the 2 year prison sentence of nonstop pitching you deserve lol

How's CS FIG looking with all the departures?

I don't work there, but CS is still strong. Yeah, they had some bad headlines. Yes, some important bankers left and many unimportant bankers left. They are a big bank, this happens occasionally and there is no reason to think they will not continue to prioritize investment banking. There is zero evidence they are going to sell IB. They will likely de-risk their prime brokerage unit and de-prioritize their S&T business.