Credit Suisse ‘Lifestyle Bonuses’ after Archegos
CS just announced a $4.7b loss on the Archegos position today, surely they would be rethinking that $20k bonus they announced right?
Apr 06, 2021Apr 06, 2021
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Comments (10)
Bump
Full year bonuses will probably receive a haircut, would be ironic if it fully offset the $20k 'lifestyle bonus'.
Per announcement, CS is suspending buybacks and cutting dividend because the impact on their CET1 ratio, so shareholders are probably pissed so they either get burnt more or u-turn on bonuses for staff, a rock and a hard place.
lol all the WSB people thought it was Melvin or Citadel before the fund was announced.
They are being paid, employees just got the HR distribution. Also the salary bump to eligible employees has already taken place. What timing for junior bankers to announce this. It's great, but is obvious that the intention is to stem attrition. From 1st year Analyst perspective... they'll get this and first full year bonus in ~August, then could bounce after that
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