Bloomberg - Some C Suisse staff said may lose bonuses, Goldman boss is optimistic

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Credit Suisse has told some employees they may not get their bonuses after the bank lost money on a commodity financing deal last quarter, according to people familiar with the matter.

Bloomberg News reports that the loss is related to financing the bank’s Swiss arm provided to a commodity trading company, the people said, asking not to be identified because the matter is private.

Didier Denat, the head of the Swiss corporate and investment bank, called in staff on a weekend to tell them they may lose their bonuses, the people said. The unit that provided the financing is small, with a few dozen employees. One person has left over the issue, the people said.

Credit Suisse Commodity Loss Said to Threaten Some Bonuses

In the meantime, Bloomberg also reports that David Solomon, Goldman Sachs' new CEO, said the trading environment has “meaningfully improved” after Wall Street banks faced a difficult end to 2018 amid a bout of heightened market volatility.

The first quarter is still unlikely to match the strong pace in the first three months of last year, Solomon said Tuesday at a financial-services forum sponsored by Credit Suisse.

Goldman CEO Sees Reason for Trading Optimism After Weak Year-End

 

 

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