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Credit Suisse Offers Retention Pay to Stem Tide of Defections

  • US-based senior banker to reap $10 million over two years
  • Some dealmakers poised to earn more than CEO Gottstein
Credit Suisse headquarters in Zurich.
Credit Suisse headquarters in Zurich.Photographer: Pascal Mora/Bloomberg

Credit Suisse Group AG, the Swiss bank that lost dozens of key dealmakers last year, is once again offering lucrative retention payments to prevent senior talent from leaving. 

The bank has offered multiyear guarantees to keep some managing directors within its investment banking and capital markets group, according to people with knowledge of the matter. In at least one instance, the Zurich-based lender agreed to award a senior US financial sponsors banker a compensation package worth roughly $10 million or more, split across two years, after he received a competing offer, said some of the people, who asked not to be identified discussing compensation.