Credit Agricole Said to Boost CIB Bonus Pool By More Than 10% [BNN Bloomberg (Canada)]
CREDIT AGRICOLE UNSP/ADR (CRARY)
NASDAQ:AMEX Investor Relations:
credit-agricole.com/en/finance/finance
Company Research
Source: BNN Bloomberg
Fixed-income traders, who outperformed peers throughout 2023, saw stronger gains than other teams in the unit, according to people familiar with the decision who asked for anonymity discussing internal matters. A spokesperson for the company declined to comment. Read more: Europe's Top Investment Banks Set to Cut Bonuses on Deal Slump Led by Chief Executive Officer Philippe Brassac, Credit Agricole benefited over the past year from a broad diversification across countries and product offerings. Its lending business got a lift from a decision to expand in the interest-rate-sensitive Italian market over the past decade, while its traders largely bucked the slowdown at Wall Street. The corporate and investment banking unit saw its underlying revenues rise about 7% last year, driven by the performance of its capital markets and investment banking business. The lender's fixed-income traders managed to defy an industry-wide gloom, supported by strong demand in structured interest r
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