GenevaLunch » bonuses

UBS pay details come as parliament agrees on initiative to curb excesses (update)

Ellen Wallace — Thu, 15 Mar 2012 13:46:04 +0000

GenevaLunch.com Thomas Minder popular initiative to vote on too-high pay deals now has counter-proposal Logitech’s new CEO to get hefty shares deal, but company provides details ZURICH, SWITZERLAND – Switzerland’s largest bank UBS paid US brokerage head Robert McCann close to CHF9.2 million lin 2011, making him the highest paid employee in the company, with chief [...]

UBS pay details come as parliament agrees on initiative to curb excesses (update) © genevalunch.com, Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Unported.

UBS investment banking losses cut into profits

Ellen Wallace — Tue, 07 Feb 2012 10:23:28 +0000

GenevaLunch.com ZURICH, SWITZERLAND – UBS, Switzerland’s largest bank, posted a full-year net profit of CHF4.23 billion, compared to CHF7.5b in 2010. The bank’s revenues were up in some areas and new money under management grew strongly, up CHF42.4 billion for the year, showing a turnaround in consumer confidence. But profits were hurt by fourth quarter losses [...]

UBS investment banking losses cut into profits © genevalunch.com, Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Unported.

UBS staff could see bonus cuts linked to trader’s loss

Ellen Wallace — Mon, 21 Nov 2011 07:37:01 +0000

GenevaLunch.com ZURICH, SWITZERLAND – Bonuses at Swiss bank UBS’s investment bank could be cut by up to 10 percent to help cover the CHF1.8 billion lost by rogue trader Kweku Adoboli earlier this year, new chief executive Sergio Ermotti has told the Financial Times. The bank was criticized after it published third quarter results 25 October, [...]

UBS staff could see bonus cuts linked to trader’s loss © genevalunch.com, Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Unported.

UBS’s top pay was $10m in 2010

Ellen Wallace — Tue, 15 Mar 2011 10:52:00 +0000

GenevaLunch.com Executive board compensation up nearly one-third Zurich, Switzerland (GenevaLunch) - Karsten Kengeter, head of investment banking at UBS, earned 20 percent less in 2010 than in 2009, but his salary of CHF874,626 plus bonus still amounted to CHF9.32 million, or over $10 million. The bank says 88 percent of the bonus will be deferred. Kengeter [...]

UBS’s top pay was $10m in 2010 © genevalunch.com, Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Unported.

Details out on likely global bankers’ pay rules

Ellen Wallace — Mon, 27 Dec 2010 16:50:27 +0000

GenevaLunch.com Basel, Switzerland (GenevaLunch) – The Basel Committee of the Bank for International Settlements has published for consultation its Pillar 3 proposed requirement for banks to regulate remuneration: notably, the long-term relationship between performance and various types of remuneration such as bonuses. The BIS published an initial outline in July 2010, but Monday 27 December it [...]

Details out on likely global bankers’ pay rules © genevalunch.com, Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Unported.

Credit Suisse shareholders: 30% say no

Ellen Wallace — Sun, 02 May 2010 08:06:44 +0000

GenevaLunch.com Zurich, Switzerland (GenevaLunch) – Switzerland’s two large banks, Credit Suisse and UBS, had items on their annual general meeting agendas to approve bonuses packages for top management. Friday Credit Suisse joined UBS in passing the motion to pay bonuses proposed by the board, but shareholders made their unhappiness clear, with 34 percent voting against the [...]

Credit Suisse shareholders: 30% say no © genevalunch.com, Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Unported.

UBS stirs the bonus controversy anew with executive pay

Ellen Wallace — Tue, 16 Mar 2010 05:23:55 +0000

GenevaLunch.com Zurich, Switzerland (GenevaLunch) - UBS’a annual report, published Monday 15 March, stoked the fire under a debate in the lower house of Swiss parliament over limiting executive pay packages. Thirteen top managers at the Swiss bank were paid CHF68.7 million in 2009, of which nearly CHF55 was in the form of bonuses, and the bank [...]

UBS stirs the bonus controversy anew with executive pay © genevalunch.com, Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Unported.

Wells Fargo CEO $21m pay puts him on top

Ellen Wallace — Thu, 04 Mar 2010 09:19:18 +0000

GenevaLunch.com US bank Wells Fargo paid its chief executive officer John Stumpf $21.3 million in 2009, a sharp increase over his pay package of $8.8m in 2008, putting him at the top of the pay scale for US bankers in 2009. The bank repaid the federal government $25m, to the Treasury’s Troubled Asset Relief Program (Tarp) [...]

Wells Fargo CEO $21m pay puts him on top © genevalunch.com, Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Unported.

Credit Suisse “resilient”, 60% management bonuses deferred

Ellen Wallace — Thu, 11 Feb 2010 08:49:03 +0000

GenevaLunch.com Zurich, Switzerland (GenevaLunch) – Credit Suisse says it finished the difficult year of 2009 with “resilience”: CHF6.7 billion in income, net new assets of CHF44.2 billion and a tier 1 ratio of 16.3 percent. The bank also says, in reporting its financial results Thursday 11 February, that while the average variable compensation was CHF144,000, much [...]

Credit Suisse “resilient”, 60% management bonuses deferred © genevalunch.com, Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Unported.

Record Bonus Season – Chappatte cartoon

Ellen Wallace — Wed, 13 Jan 2010 21:09:37 +0000

GenevaLunch.com © Chappatte, distributed by Globe Cartoon. More cartoons on Chappatte’s web site. Geneva-based Patrick Chappatte works for the International Herald Tribune, for Geneva newspaper Le Temps, and for NZZ am Sonntag. All cartoons reproduced with permission.

Record Bonus Season – Chappatte cartoon © genevalunch.com, Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Unported.