Business News

UBS gives top executives millions in bonuses

Mar 15, 2010, 15:00 GMT

Geneva - UBS AG, the troubled Swiss banking giant, said Monday it set aside 69.4 million francs (65.5 million dollars) for bonuses for its top management. In an annual report, the bank said the largest bonus, equal to 13.2 million francs, went to Carsten Kengeter, one of UBS's investment directors. Oswald Grubel, the head of UBS, turned down a bonus this year. The bank set aside a total of 2.9 billion francs in bonuses for some 65,000 employees worldwide, saying it needed to keep its talent. The bank reported last month that it took a net loss for 2009 of 2.7 billion francs, compared to a loss of over 21 billion in 2008. UBS, Switzerland's largest bank by assets, reported a positive fourth quarter, the first three-month period to be in the black since the middle of 2008. The bank, which had to take a government bail-out and transfer assets to a stabilization fund still being run by the central bank, holds its annual general meeting next month in Zurich.

On the Web

Blowing Up Blogs

Place your ad here
Loading...

Your Talkback on this Story

Latest Headlines in Business

Older Talkback

Business: Index

: News; Features; Currency Conversion

Like M&C on Facebook

Custom Search

Viral Web

In Monsters and Critics

: Arts; Books; DVD; Gaming; Lifestyle; Movies; Music; News; People; Science & Nature; Sport; TV; Archives
Other Languages and Sites: Deutschland (Monsters and Critics); The Tech Herald; Free Games Herald; XPRNC; Deutschland (Der Technikbote); Deutschland (Bellalu)

Entertainment: Arts; Books; DVD; Gaming; Movies; Music; People; Soundtracks; TV
Media: Celebrity Photos; Movie Pictures; Movie Trailers; Movie Posters; Theatre Stills
Released this week: Movies - USA; Movies - UK; DVD - USA
Distractions: Online Games; Daily Crossword; Sudoku Classic; Daily Jigsaw

World News: US; UK; Americas; Europe; Middle East; Asia Pacific; South Asia; Africa; Business; Education; Health
Science and Tech: Science and Nature; Technology
Lifestyle: Autos; Fashion; Life; Travel

Corporate

: About; Advertise; Contact; The Team; Vacancies; Privacy; RSS; Site Map; Terms; Webmasters

The Fine Print

© 2003 - 2012 by Monsters and Critics.com, WotR Ltd. All Rights Reserved. All photos are copyright their respective owners and are used under license or with permission. * Note M&C cannot be held responsible for the content on other Web Sites.

Servers supplied by Servint