# UBS Defeats Ex-Credit Suisse Executives' Deferred-Pay Claims

> A New York court backed arbitrators who rejected claims from two former Credit Suisse managing directors who argued their deferred-compensation awards shouldn't have been written down when UBS absorbed the bank in 2023.

- Source: Principle Post
- Canonical URL: https://principlepost.com/article/ubs-defeats-credit-suisse-deferred-pay-claims
- Author: Principle Post Staff
- Section: Markets
- Published: 2026-10-22T18:39:30.000Z
- Updated: 2026-10-22T18:39:30.000Z
- Tags: UBS, Credit Suisse, deferred compensation, arbitration, banking

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UBS has prevailed over two former Credit Suisse managing directors who argued their deferred-compensation certificates should not have been wiped out when the two banks merged in 2023. A New York state court confirmed arbitration decisions rejecting claims brought by the former executives, Martin Ego and Jeffrey Jennings, over so-called contingent capital award certificates.

## One of several pay disputes from the merger

The certificates were a form of deferred pay that Credit Suisse had granted to senior bankers, designed to convert or be written down under specific triggering events. When UBS absorbed Credit Suisse in its emergency 2023 takeover, holders of these awards saw their value eliminated, prompting a string of legal challenges from former executives who argued the write-down was improperly applied to them.

The Ego and Jennings cases are among several such disputes UBS has faced from former senior Credit Suisse bankers since the merger. The outcome adds to a broader pattern of courts and arbitrators siding with UBS on these pay claims, including a ruling earlier this month in which Switzerland's top court rejected a separate bid by former Credit Suisse bankers to recover canceled bonuses.

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Originally published by Principle Post. Free to cite with attribution and a link to https://principlepost.com/article/ubs-defeats-credit-suisse-deferred-pay-claims.