UBSis looking at capping bankers’ bonuses as the Swiss bank joins its European peers in cracking down on remuneration schemes after regulatory and investor pressure.
Switzerland’s largest bank by assets is considering options including putting a lid on executive bonuses either in relation to fixed salary or the bank’s net profit, increasing the time for deferred pay to five years and aligning its absolute remuneration level with the average of a peer group.
Axel Weber, the former Bundesbank president who joined as chairman four months ago, has been jetting around Europe and the US getting investor feedback about pay policies, according to people at those meetings.