UBS shareholders told to vote against pay policy due to high payouts

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UBS Shareholders have been advised to vote against pay policy due to a number of executives receiving high payouts. Proxy advisors Glass Lewis say they “repeatedly highlighted [their] concerns with the level of executive payouts, which appears consistently above peers". The proxy advisors say there is “no clear link” between the pay and performance package for UBS Executives. In 2018, UBS experienced a slight decrease in the bonus pool. As a result, UBS stock price fell by a significant amount of 30% while the CEO’s pay reduced by only 1%. Glass Lewis also points out that along with UBS, Credit Suisse also reports an “unjustified CEO bonus increase”.

 

The Financial Times, Stephen Morris, April 9th 2019