More At Credit Suisse Get Restricted Stock

eFC logo

Credit Suisse is said to have tied in more of its bankers with restricted stock during the recent bonus round.

According to MarketWatch, the Credit Suisse Group has broadened the use of its restricted stock "Performance Incentive Plan," which was was conceived at the end of 2004 to retain managing directors after CSFB announced plans to make as many as 300 employees redundant.

In 2005, the plan covered around 100 managing directors, who collectively received restricted stock worth around $543 million. The stock was apparently deferred for five years to ensure CSFB's MDs didn't quit while the bank restructured.

This year, Marketwatch says the plan has been extended to a wider circle of MDs, including 900 at Credit Suisse's New York office.