The investment bank told juniors on Thursday that it would make changes to its promotion cycle in Europe, the Middle East and Africa, bringing it in line with the United States where the practice was introduced in summer 2013, sources familiar with the situation told Reuters. A spokeswoman for Credit Suisse confirmed the plans. The program, due to start in July, will enable top-performing analysts - the first rung on the investment banking ladder - to become associates in just two years rather than three, meaning they can reach vice-president level after 5-1/2 years rather than 6-1/2. [Reuters]
Promotion Watch '12: Credit Suisse
Recent events might have had you thinking otherwise, but Credit Suisse does more than just layoff its employees-- sometimes it promotes them, too! Earlier this morning, in fact, the Swiss bumped a whole bunch of guys and girls up to managing director. And even though it's not grundle-to-face level exciting, it's still something.