Bonus worries rumored at Credit Suisse

31 October 2006

Bankers at investment bank Credit Suisse are growing increasingly concerned about the expected size of their annual bonuses this year, it has been rumored.

According to a report on DealBreaker.com, it has been rumored that losses resulting from derivatives trading are likely to be greater than was first thought, impacting significantly on the size of company bonuses.

Credit Suisse's financial results for the third quarter are due to be released on Thursday this week.

An unnamed source from the bank's New York office has reportedly told DealBreaker that some employees are intending to move on if profits are reported down, giving them a smaller bonus than they would expect.

According to analysts surveyed by Bloomberg News, Credit Suisse could see a drop in net profits of as much as 13 per cent, down to 1.67 billion Swiss francs ($1.33 billion).

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