Sunday, 22nd November 2009

 

4 February 2009 - Press Briefing

Credit Suisse clients urge management to repay bonuses

A group of Credit Suisse clients are demanding repayment of bonuses by the Swiss bank’s management, spanning from 2004 to 2008, to reimburse savers who suffered losses from investment in papers of Lehman Brothers, according to a Reuters report.

"Only about 5% of (our) members have been compensated for Lehman papers that became worthless," said Gabriela Fischer, a spokeswoman for the saver group, in a statement.

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Brummel

Relocation, relocation, relocation

Banks have never been shy of firing staff at the merest whiff of a downturn. First the fat, then the muscle and finally the bone. In the past, cuts have been so deep that firms have found it hard to benefit when the markets rebounded, paying over the odds to restaff at speed. Such wild oscillations in staffing numbers are known as “doing a Merrill”.

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