Credit Suisse is paying its senior bankers a bigger chunk of their annual bonus in cash, but will claw some of it back if they leave within three years in a new programme aimed at increasing loyalty among its dealmakers after a spate of departures.

The Swiss bank told bankers earning more than $250,000 that they will receive more of their annual bonus in upfront cash. This means that the proportion of annual payments received in deferred cash and shares in prior years will reduce, according to a memo sent to directors and managing directors on 28 January seen by Financial News.