Chillin' out till it needs to be funded
Remember the time when the Paulson & Co company actually made money in the Post Lehman era with Lehman. Well the Post Orion CDO and Magnetar era was kickstarted by enterprising HR Comp professionals at beleaguered investment bank Credit Suisse ( but not owning the Post Paulson era it seems!) when three years ago they sold the banks collateralised assets as bonuses to their IB team.
This year again the risky asset bonus packages are back and after the three year appreciation rate overran 70% , the bank has redesigned the bonus package to offer lesser and hopefully limited gain int he packaged securities. (Maybe more CRE, CMBS and European collateral too!)
As Reuters mentions..the longer deferrals and the lower cash components..
Meanwhile UBS and Morgan Stanley veterans have joined the Insitutional and Private Clients business at Wells Fargo