The investment bank wants to pay some staff compensation in instalments as it seeks to overhaul the business that has been plagued by scandal and losses.
A requirement that private bankers verify most of their clients’ sources of wealth was eased near the end of last year, while third-party transactions are no longer subject to executive approvals, according to people familiar with the matter.
Francesco De Ferrari has four priorities that will bring the major Swiss bank s wealth management business back on track. In an interview with finews.com, he notes the possibility of making acquisitions and discusses the power of social media, and forecasts when the share price of Credit Suisse will potentially recover.
Credit Suisse Group bankers are trying to entice rich clients with higher-yield notes and bonus deposit rates in a bid to quickly recoup as much as possible of the almost $90 billion recently pulled from the bank.