The new fear at Credit Suisse: clawing back previous years' bonuses
Following today's results announcement at Credit Suisse, it's not just this year's bonuses that might be impacted by last year's turmoil. Insiders are also waking up to the notion that bonuses awarded in previous years could be clawed back too.
Credit Suisse isn't commenting on the potential clawbacks, but the fears aren't entirely unfounded.
Credit Suisse made a CHF1.6bn loss last year. In the investment bank, the pre-tax loss was an even more dramatic CHF3.7bn by virtue of Archegos.
The bank's 2020 compensation report contains the following table...
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