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Wednesday, 08 February 2012
UBS Seeks Staff Retention
Whilst cutting the 2011 bonus pool, UBS has announced that it will introduce a “special plan” designed to retain key staff.
The plan is a deferred bonus scheme that will allocate SFr 300 million to the top 5 per cent of the bank’s 17,000 staff.
The plan is expected to allocate an average of SFr 350,000 in deferred shares. Employees remaining for three years will be able to cash the instrument in although the award comes with strict forfeiture conditions.
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