Credit Suisse cut bonuses for top bankers by 14% last year and is considering clawing back variable pay for senior executives as the bank battles the growing crisis over its links with Greensill Capital.
The Swiss bank reduced bonuses for senior staff known as material risk takers by 14% to CHF902m last year, with total pay for this group falling by 12% to CHF1.6bn. The reduction came amid a 7% slide in variable pay across the group to CHF2.9bn "in the context of lower reported results and to take into account the Covid-19 pandemic and resulting economic environment".
