Credit Suisse may cut 2022 bonus pool by 50% -Bloomberg News

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The bank declined to comment on the report.

It cut its 2021 bonus pool by 32% after reporting a full year loss. Its overall variable compensation pool fell to 2 billion Swiss francs ($2.17 billion) as the bank reduced regular deferred awards but sweetened pay for senior bankers by a surge in upfront cash and a one-off bonus.

Credit Suisse has been battered by mishaps, including a $5.5 billion loss on U.S. investment firm Archegos. It also had to freeze $10 billion worth of supply chain finance funds linked to insolvent British financier Greensill.

Last month it successfully completed the final part of its 4 billion Swiss franc ($4.28 billion) fund raising and said its liquidity levels had been boosted.

($1 = 0.9231 Swiss francs)

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