Credit Suisse to launch new staff bonus scheme

4 January 2013

Credit Suisse is set to make significant changes to the way in which it pays out bonuses for 2012, it has emerged.

The major Swiss bank is looking to award a greater volume of risk-sensitive assets to members of staff for their efforts last year as it seeks to comply with the wishes of both regulators and shareholders by granting lower proportions of cash in its bonuses, Reuters reports.

Since 2008, the lender has used asset-backed plans for additional remuneration, meaning professionals' bonuses are partly-reliant on the performance of business areas the company is exposed to.

This initiative has proved largely successful as it has allowed Credit Suisse to save around $1.4 billion in cash over the last five years and insiders at the organization told the news source plans are now in place to launch a new version of the scheme, which is to be called the Plus Bond.

By Asim Shah

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