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Credit Suisse increase cash bonuses to retain senior bankers.

In an effort to retain important dealmakers, Credit Suisse is rolling out a new rewards programme for senior bankers that offers cash up front.

According to an internal memo seen by Financial News, the Swiss bank is encouraging managing directors and directors within its investment bank to join up for a bonus system that provides them a bigger part of their salary in cash this year.

If they depart within three years, they will be required to pay back the entire amount received, before taxes, on a rolling basis. According to Financial News, Credit Suisse initiated the initiative a year ago in response to an exodus of senior dealmakers, but the approach proved controversial with many bankers.

Employees have until January 30 to

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