bail-inable bonuses

  • 05 Feb 2013 at 1:47 PM

Bonus Watch ’13: UBS

The Swiss bank will reportedly announce today that it’s going to be doing things a little differently around here re: compensation. One, deferrals will start at $250,000 and two, rather than being paid in UBS stock, the non-cash portion of 6,500 senior employees’ bonuses will come in the form of subordinated debt that can and will be wiped out in the event the amount of capital on hand falls below the level required by EU regulators, putting the onus on everyone to make sure no one pulls an Adoboli (and avoids multi-billion dollar fuck-ups in general). Half-Adobolis only moving forward, please. Read more »