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Bonus Watch '11: UBS Might Not Be Paying Out Bonuses In The Traditional Sense Of The Word

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Will you be thanked for your hard, non-rogue-esque work over the year? Probably. Will you receive any actual money? Probably not.

It was suggested that the [Adoboli] losses could mean that thousands of UBS bankers will receive zero bonuses this year...If UBS’s investment bank fails to make any money for 2011, that could trigger so-called “clawback” provisions in bankers’ contracts, which allows UBS to pay out substantially reduced or even zero bonuses to employees whose bonuses are tied to the overall profitability of the division, analysts said.

UBS Banker Charged With Fraud [FT]