The head of Credit Suisse's investment bank is sounding the alarm over bankers burning as work-from-home arrangements head into their second year.
Brian Chin (pictured below) is worried about the well-being of Credit Suisse's investment bankers, according to «Bloomberg»: «People are having a bit of fatigue over this set-up, and not being able to see colleagues and actually see clients,» the 43-year-old American who runs Credit Suisse's markets arm said.
The Swiss bank hopes to gradually welcome bankers back to offices soon. «There’s only so many Zoom calls you can do with people,» Chin said.
Credit Suisse said this month that 90 percent of its staff can work from home, though last year the number averaged at roughly two-thirds of its total 47,860 employees. The Zurich-based bank is offering staff who are still commuting to the office free, but not mandatory, testing for the virus.
Bonuses To Rise
The securities business overseen by Chin outshined Credit Suisse's private bank last year: income from dealing with the world's wealthy slid by eight percent to 13.6 billion Swiss francs ($15 billion), while trading and advisory together rose by 19 percent to 10.2 billion francs.
Credit Suisse's investment bankers are set for a bigger piece of the year-end bonus pie which will fall by seven percent, according to «Bloomberg». By contrast, bankers in other businesses will be lucky to see flat year-end payouts, or cuts.
