Financial Times FT.com

Mixed response to Credit Suisse’s pay plan

By Haig Simonian in Zurich

Published: December 19 2008 18:54 | Last updated: December 19 2008 18:54

Credit Suisse’s plan to link the pay of its top investment bankers partly to the value of illiquid assets that many of them helped to accumulate prompted mixed reactions from employees, shareholders and rivals Friday.

Most lauded the Swiss bank’s ingenuity in devising a scheme to rid itself of leveraged loans and commercial mortgage backed securities (CMBS) by transferring them into its so-called Partner Asset Facility.

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