Credit Suisse bucks compensation trend
ZURICH - Compensation for Credit Suisse's investment banking team hit Sfr2.9 billion ($2.5 billion) in the first quarter - its highest level in 18 months - as the division returned to profitability on the back of record foreign exchange revenues.
In a move that bucks industry trend, compensation expenses soared Sfr1.2 billion from Q1 2008 to reach their highest levels since Q2 2007, when they totalled Sfr3.8 billion. The Swiss bank said this reflected an improved performance by the investment
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