Credit Suisse will offer senior bankers a cash incentive upfront to reward loyalty and stem talent inflow 

Credit Suisse may offer bonuses to its senior executives in an effort to encourage them to stay with it.

Internal memorandum Am city He stated that directors and managing director “in most places” will receive the cash component to their variable compensation up-front.

The memo stated that the advance payment was made to the bank to “recognize senior leaders’ contributions and reward loyalty.”

If the bonus is not repaid within three years, the recipient of the early cash bonus must repay the bonus.

The memo stated that the bank had acknowledged that the “compensation pool” would be lower than previous years, but that the plan was intended to reward individual and team performance.

Credit Suisse declined comment.

Yesterday, Credit Suisse Chairman Axel Lehmann declared that 2022 was like “horrifying”The bank’s bonus pool “isn’t going be looking great” this year, following reports that it was considering cutting its bonus pools by 50%.

The troubled lender is under strict cost-cutting measures after turning in a pre-tax loss of CHF1.9 billion (£1.7 billion) in the nine months to September 2022, compared to a profit of CHF1.1 billion in the previous year.

It also warned that it would need 9,000 job cuts by 2025.

According to some reports, the lender is having difficulty retaining its top talent due to cost-cutting measures.

It is set to post a loss of up to CHF 1.5 billion for the last three months of 2022 after reporting a “significant industry-wide slowdown” in capital markets.

After October rumors of a possible financial collapse, the company sought to purchase A cash injection of £3.5 billionWith the support of the National Bank of Saudi Arabia, investors can sell shares.