Bonus Watch ’13: Not Everyone Is Satisfied With The Number Credit Suisse Wrote Down And Slid Across The TableBy Bess Levin
Steve Oplinger, co-head of U.S. high- yield sales for Credit Suisse Group, left Switzerland’s second-biggest bank amid a disagreement over his group’s compensation, two people briefed on the matter said. Oplinger departed today following a dispute with top management over his team’s alloted bonus pool, according to the people, who asked not to be identified because the departure wasn’t made public. Jason Safriet, his co-head, will run the group, according to another person. Oplinger declined to comment when reached by phone. Drew Benson, a spokesman for the Zurich- based bank, declined to comment on Oplinger’s departure…Credit Suisse hasn’t publicly announced the size or composition of its 2012 bonus pool. The lender cut its 2011 pool by 41 percent and awarded a portion of pay for more than 6,000 senior bankers in bonds backed by derivatives that will pay out over several years.