News

Law

Asset Management

Investment Banking

Wealth

Hedge Funds

People

Newsletters

Events

Lists

Investment Banking

Swiss government suspends deferred bonuses at Credit Suisse

Credit Suisse bankers face bonus suspensions after UBS rescue deal

UBS agreed to buy Credit Suisse in a CHF3bn ($3.2bn) all-share deal announced on 19 March
UBS agreed to buy Credit Suisse in a CHF3bn ($3.2bn) all-share deal announced on 19 March Photo: Fabrice Coffrini/Getty Images

Deferred bonuses at Credit Suisse have been suspended by the Swiss government in the wake of the bank’s shotgun takeover by rival UBS.

The Swiss Federal Council said it was “temporarily suspending certain forms of variable remuneration for Credit Suisse employees”, in a 21 March statement.

WSJ Logo