'In the last four years we have on several occasions remunerated our employees partly in the form of risk positions within some of the investment bank’s portfolio', Chief Financial Officer David Mathers, 47, told reporters on a conference call from Zurich Thursday. 'This year’s was smaller. It’s called the Plus Bond'.
Bloomberg reports that Credit Suisse, which in 2008 awarded employees bonuses linked to a pool of toxic assets, last year granted about $800m in structured notes linked to derivative counterparty risks, named Partner Asset Facility 2, to more than 5,500 senior employees throughout the bank. The bonds were designed to help cut risks and improve the lender’s capital position.
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