Credit Suisse is offering pay rises of up to 30% to retain senior dealmakers who have been offered new jobs by rivals, as the Swiss bank works to stem an exodus of bankers amid a red hot hiring market.

The Swiss bank is facing pressure to keep hold of some of its most senior bankers as rivals circle talent in the aftermath of the twin crises of Archegos Capital's collapse, which cost Credit Suisse $5.5bn, and its links to trade finance firm Greensill Capital.