Credit Suisse is struggling to fill the gaps in staff. In the home market of Switzerland alone, number 2 has hundreds of vacancies.
This shows an evaluation of CS-Job-Portals. A comparison with the UBS reveals the dramatic situation.
While there are currently 345 vacancies at the leading bank in Switzerland, there are almost twice as many at CS with 650.
CS also stands out in the EMEA region, i.e. Europe, the Middle East and Africa, with a good 100 vacancies. At UBS it is a little more than half.
Finally, it is noticeable how CS is desperately looking for fresh workers in India. The bank operates large IT centers there.
The job portal of the big bank showed 503 open positions yesterday evening, at UBS, which also maintains important back-office platforms in India, there were 140 fewer.
The lower number of open jobs in the USA, on the other hand, is in line with expectations. CS is dismantling its large investment banking overseas.
This after the “hammer blow” with the hedge fund Archegos, which cost the bank 5 billion. The second scandal, the one with the scrapped Greensill fund, hits customers in the home market and in the EMEA region.
Yesterday, the internal job exchange reported a total of over 2,800 vacancies at CS worldwide. At UBS, which employs almost 50 percent more staff globally, there were only slightly more at a good 3,200.
The many unfilled positions at Credit Suisse are not just a sign of numerous departures of important people.
Even more, they point to doubts among potential candidates about the future of the important financial firm.
Should you hire at CS now, or would a job at another bank not be better – that’s the question in the recruitment market.
Apparently, many opt for alternatives to CS. The battered multinational doesn’t seem to be your first choice for a good career with great compensation at the moment.
The acute personnel problem exacerbates the crisis at the big bank. No wonder they resorted to the controversial instrument of cash clawbacks.
Previously blocked cash bonuses are now paid out in advance. If you cancel before the three-year period, you must repay the cash received proportionately.
“Cash Now – Stay On” is designed to keep the best happy. However, the large gaps in the team room now indicate that the lure call does not catch many people. They jump overboard and try their luck elsewhere.
“In accordance with the new group strategy, Credit Suisse is investing worldwide in strengthening the organization, particularly in the defined growth areas such as wealth management and digitization and the expansion of IT,” says a spokeswoman.
“Credit Suisse remains an attractive employer. In January 2022 alone, 48% more employees were recruited in Switzerland than in the previous year, thus supporting the growth plans.”