Credit Suisse Group AG plans to grant its top executives 350 million Swiss francs ($380 million) of awards, which will pay out if its restructuring succeeds, according to a person familiar with the...
It caps a grim year in which the bank was forced to raise $4 billion after a string of losses.
The Saudi National Bank is already an anchor investor in Credit Suisse's $4 billion ongoing capital raise.
The firm walked back plans after abandoning a deal to buy robo-advisor Wealthfront.
The overhaul is an urgent attempt to restore credibility at Credit Suisse after a succession of big losses.
The response to inflation by central banks is giving banks a tailwind in lending revenue.
Credit Suisse is in the midst of a critical strategic review after multiple missteps drove the bank's share price to record lows.
Businesses being targeted for a boutique-style future include the advisory and deal-making teams.
Investors are worried about how the bank will cover the cost of a strategic restructuring.
Credit Suisse is in the throes of what is expected to be a major restructuring.
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