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Switzerland curbs bonus payouts at Credit Suisse

Tom Sims, Noele Illien and Stefania Spezzati

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Zurich | Swiss authorities imposed curbs on bonus payments for Credit Suisse employees, a move that will penalise bankers after a multi-billion-franc state rescue of the bank.

Switzerland’s government announced on Tuesday that Credit Suisse was ordered to “temporarily” suspend “already granted but deferred variable remuneration” - like shares - awarded in the years up to 2022.

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Reuters

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    Original URL: https://www.afr.com/companies/financial-services/switzerland-curbs-bonus-payouts-at-credit-suisse-20230322-p5cu5x