Credit Suisse handed out nearly $300m in retention bonuses to dealmakers during the third quarter of 2022 — more than six times the same period last year — as the lender tries to keep hold of key talent as it spins out its investment bank.

The Swiss bank awarded CHF296m ($293m) in deferred cash and shares retention bonuses during the third quarter, it revealed in a financial report published 2 November, up from CHF49m during the same period in 2021. The bonuses were largely paid out to employees within its investment bank, it said, as well as staff in corporate functions.