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Bonus Watch '13: UBS

...employees will get their bonus numbers when management feels like giving them their bonus numbers!
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...employees will get their bonus numbers when management feels like giving them their bonus numbers!

While most of their colleagues on the Street either have received — or at least have been informed what their year-end pay might look like — UBS bankers remain in the dark about bonuses. The Zurich-based firm is at least two weeks behind in handing out bonuses. Not that bankers at Switzerland’s No. 1 bank will be overjoyed once they get them — because they will be as much as 40 to 50 percent less than in prior years...The bank, sources said, expects to tell its employees about their bonuses some time in mid-March — which would mean many staffers would be learning the size of their bonuses nearly a month later than usual and after all of the bank’s peers. The pay delay comes as UBS boss Sergio Ermotti is undertaking a massive restructuring of the bank to re-emphasize its wealth-management business and shrink its riskier fixed-income operations in order to appease its Swiss regulators weary of the bank’s misadventures in banking.



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.

Bonus Watch '13: UBS

Not everyone received a package that resulted in a nice long cry. Andrea Orcel, for example, did pretty okay for himself.

Bonus Watch '13: UBS Hedge Fund Employees None Too Happy To Be Treated Like UBS Employees

The Swiss are scheduled to communicate bonus numbers today. In the meantime, those working in UBS's O'Connor fund are preemptively pissed re: the news their compensation will be structured as though they were regular old employees of the bank. What are they doing about it?

Bonus Watch '13: UBS

From the front lines:

Bonus/Layoffs Watch '13: UBS

Both are expected to go down shortly.

Bonus Watch '12: UBS

Numbers for first and second year analysts (who are not happy). "It's been two weeks since UBS numbers came out and nobody wants to talk about it, for obvious reasons. Second years (base: 80k) ranging 45-65k and heard of some first years getting around 40k (base: 70k). And they could only achieve these numbers ("in line with the street") after firing 30+ analysts right before communication day."