Skiplink Navigation

Main Features

UBS follows Credit Suisse on pay reform

Swiss bank UBS has followed rival Credit Suisse in reforming its pay structure and matching bonuses to long-term performance.

The move will boost fixed salaries at the bank, according to an internal memo released to staff on October 5. UBS will not implement the changes until key units return to profit.

"At UBS, the ratio of variable to fixed compensation was in some cases particularly high," the memo said.

"Fixed salaries at UBS should, in the future, be high enough that the variable portion can be adjusted from year to year, while still ensuring that the total compensation is in line with market standards."

UBS already reformed its compensation system at the end of 2008 after a government bailout.

Credit Suisse last week announced plans to increase salaries for executives and link its bonus structure to sustainable performance. The bank's changes, which are designed to meet G20 standards, come into force on January 1.

Switzerland's financial regulator, Finma, will introduce reformed pay rules the same day. and agencies


Neuer Inhalt

Horizontal Line

subscription form

Form for signing up for free newsletter.

Sign up for our free newsletters and get the top stories delivered to your inbox.

Click here to see more newsletters

swissinfo EN

The following content is sourced from external partners. We cannot guarantee that it is suitable for the visually or hearing impaired.

Join us on Facebook!