Credit Suisse Group AG gave up on its wealth-management business in the U.S. last year, but it didn’t give up on collecting from Wilhelm Nash, according to a Wall Street Journal report on Saturday. Nash is one of a number of former Credit Suisse brokers being pursued for repayment of bonuses, paid in the form of loans when they joined the firm that are forgivable after several years. The practice is common among banks. So are disputes, when employment ends abruptly and a broker fails to repay. Credit Suisse’s pursuit of Nash, for more than $1 million, has been particularly contentious. After Nash filed for bankruptcy protection in Florida late last year, lawyers for Credit Suisse filed suit against him in a West Palm Beach court in April, arguing that he has “fleeced” a few different financial firms by taking unpaid loans as bonuses — and shouldn’t be able to have his debts discharged.
