How do you get around all those pay restrictions on Wall Street to collect a eight-digit bonus? Move to Atlanta. That is the takeaway from a heated battle going on between the Atlanta offices of Goldman Sachs and Credit Suisse over seven private wealth managers that recently jumped ship from Goldman.
Credit Suisse paid one of the money managers, David Greene, $11m (€8.1m) to leave his job at Goldman this month and join Credit Suisse, according to a lawsuit Goldman filed in federal district court in Atlanta against its former employees.