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Credit Suisse staff given surprise bonuses
Wed, 08 Feb, 2012
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Credit Suisse staff given surprise bonuses
Wed, 1 Sep 2010, 11:15:00
Swiss bank Credit Suisse has announced a surprise bonus for about 400 of its London staff as it seeks to prevent them defecting to rivals. The bank says that the payouts are compliant with FSA rules and are subject to performance targets. The bonuses will cause concern in the government that other banks may follow Credit Suisse's lead in coming months. 'Credit Suisse is committed to remaining competitive in the United Kingdom,' the bank said. 'We are recognising the commitment of our UK leadership team with a discretionary leadership award.' It added that the bonus is 'long term in nature, deferred over three years, tied to the performance of the bank and is subject to clawback provisions.'
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