- MADRID (MarketWatch) -- Swiss banking group UBS AG (NYSE:UBS) (SWL:CH:UBSN) plans to rescind a portion of the bonuses it handed out to its top-paid investment bankers last year, after a trading scandal triggered losses for 2011. (Marketwatch)
- ZURICH -- In another move to rein in compensation, UBS AG notified employees it will claw back part of the bonuses due to its best-paid investment bankers, according to a person familiar with the matter. (Huffington Post)
- It is a picture repeated elsewhere. On the surface, UBSs move on bonuses across the group is far more drastic than most. (Reuters)
- Thanks to a trading scandal that put its investment banking unit deep into the red, UBS announced today it would clawback by 50% bonuses for its most successful investment bankers, the Wall Street Journals Deborah Ball reports. (The Business Insider)
- However, under UBS compensation rules established in 2010, if a division posts an operating loss, the board can rescind between 10% and 50% of shares awarded to employees who earn share-based bonuses worth at least two million francs or $2 million. (DEALBREAKER)
- The UBS brokerage, led by former Merrill Lynch wealth management chief Bob McCann, last year offered a premium for brokers from Merrill by increasing up-front bonuses. (Reuters UK)
- Kengeter was paid Swfr8.5 million (£5.8 million) in bonuses in 2010 as part of his total Swfr9.3 million pay package. (Evening Standard)
- UBS - News)(VTX:UBSN.VX - News) had placed a premium on brokers from Merrill, Bank of Americas brokerage unit (NYSE:BAC - News), by increasing up-front bonuses offered to those who signed before the end of 2011. (Yahoo Finance)
- Signing bonuses like the one that UBS gave to Pericles Gregoriou are designed to encourage brokers to stay with the company and typically must be paid back if the broker leaves or is fired before a promissory note expires. (site.law360.com)
- UBS sought $1 million. The case is a rare win for a broker trying to oppose the return of unpaid bonus money, say lawyers. (BankInvestmentConsultant.com)
Thursday, February 9, 2012
Ubs bonuses
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