The Swiss bank is losing some high-ranking FX traders in London, New York and Singapore because they are increasingly unhappy with the bank's bonus policy.
Credit Suisse is losing FX traders in Singapore, London and New York according to a report by «FN London» Tuesday.
Among those leaving are Ruchir Sharma, the Singapore-based head of APAC FX Trading; Christopher Hatton, a director in emerging markets (EM) FX trading in New York; Rohan Naik, a director in global emerging markets FX trading; Rohan Agrawal, a junior EM FX options trader in Singapore and Jared Saporta, a junior FX trader in London, the report said.
The employees are departing because they are disgruntled with the bank's lower bonuses this year which were partly paid in cash and are susceptible to being clawed back over the following three years, the outlet noted, adding that the bank had clawed back traders' stock that was due to vest after its investment bank posted a 3.7 billion Swiss franc loss last year.
The bank did not provide a comment to «FN London,» the outlet wrote.
