It's no secret that people have been leaving Credit Suisse. Despite the need to pay back last year's cash bonuses, plus income tax upon departure, Credit Suisse managing directors have been leaving the bank everywhere from Hong Kong to London.
However, as Credit Suisse seeks to fill what Jefferies today predicts will be an $8bn capital shortfall by 2024, there's one area of its business where it particularly can't afford to lose people. Pimco, Sixth Street and an investor group including Centerbridge Partners are reportedly interested in buying the securitized products business and if (more) people leave, it could be problematic.