Bonus Watch '13: UBS

Author:
Updated:
Original:

You get a raise! And you get a raise! And you get a raise!

UBS, Switzerland’s biggest bank, is boosting base salaries for investment bankers to retain key employees and help align pay with competitors, said three people with knowledge of the plan. UBS is informing staff of the move this week, said the people, who asked not to be identified because the plan hasn’t been made public. The average raise for employees in its advisory and trading businesses will be about 9 percent, one of the people said. Some employees may get as much as 25 percent, two of the people said. UBS expects to keep total compensation, including bonuses, unchanged if business conditions remain the same, one of the people said.

[Bloomberg]

Related

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

From the front lines:

Bonus Watch '13: UBS

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

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/Layoffs Watch '13: UBS

Both are expected to go down shortly.

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?