Credit Suisse Group AG is delaying a much-anticipated compensation day for some of its investment bankers, further straining its relationship with employees as it restructures its Wall Street operations, according to people familiar with the matter.

The investment bankers — mainly at managing director or director level — were notified on Monday that meetings set for Tuesday Feb. 7 have been canceled, pushing back conversations on bonuses, said the people, who requested anonymity discussing confidential information. The discussions may be rescheduled in the coming weeks, the people said. The bonuses are typically paid at the end of the month.

A spokeswoman for Credit Suisse declined to comment.

Staff inside Credit Suisse’s investment-banking arm have contended with uncertainty amid the Zurich-based lender’s plans to merge those operations with rainmaker Michael Klein’s advisory boutique. The combination is supposed to form a First Boston unit that will eventually be spun out. Credit Suisse said in October it received a commitment for a $500 million injection into the business, but hasn’t identified that investor.

The Swiss bank has said it would bring other investors into Credit Suisse First Boston and lower its holding over time. Apollo Global Management Inc. is among financial firms showing interest in taking a stake in the unit, the Wall Street Journal reported Tuesday. Former Barclays Plc Chief Executive Bob Diamond’s Atlas Merchant Capital and Saudi Arabian Crown Prince Mohammed bin Salman are among investors that have weighed putting money in, Bloomberg has reported.

Credit Suisse, seeking to draw a line under years of losses and scandals, has said it would carve out its dealmaking businesses under the storied First Boston brand and tapped Klein to try to return them to their former glory. Credit Suisse First Boston is set to be a partnership, giving senior employees some ownership.

The Swiss lender is already cutting its overall bonus pool for 2022 by as much as 50% after a year in which it was forced to raise capital. At the same time the bank’s leadership is offering some senior staff upfront cash payments to incentivize them to stay.

Any delays in bonus payments would be painful ahead of tax season, where bankers often use portions of the reward to cover those bills. It could also adversely impact the younger directors, who are likely to have more onerous mortgage burdens than their more tenured peers. 

This article was provided by Bloomberg News.