Unfounded Rumor Of The Morning: UBS

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Supposedly "many" UBS sales people across the pond, after receiving the cash portion of their bonus this morning,* have walked off the London floor and do not intend to come back. Apparently similarly huffy resignations are expected from employees in Stamford and New York, once they make it into the office. We'll keep you posted.
In related news, the Swiss bank is increasing the base salary of senior investment bankers, who'll be getting nothing in the way of bonuses this year (and 100% stock next year), to about 300,000 pounds from about 120,000 pounds ($429,000 from $172,000).
Earlier: Bonus Watch '09: You Get NOTHING (Not Even Toxic Waste)
*We're told that another factor in the timing, perhaps more importantly than the cash-money coming this morning, is that the stock which was awarded in previous bonuses vests today.

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