Credit Suisse To Require American Staff Members to Give 2.5% of 2010 Bonuses to Charity

This is not a huge percentage but it’s better than the alternative of zero and $30 Million is what is anticipated for charities, and what does this tell you about the size of the bonuses too, big! Wonder if any other banks will follow suit, Goldman, JPMorgan? BD

The international bank Credit Suisse will require its American staff members to give 2.5 percent of their 2010 bonuses to charity, writes the Financial Times.

The bank said the requirement would raise up to $30-million for charity. It said that for tax and administrative reasons the charity requirement will be adopted only in the United States for now but could be expanded in the future.

http://philanthropy.com/blogs/philanthropytoday/finance-giant-orders-bankers-to-give-away-bonus-money/30680