UBS Breaks Out the Claws

by Derek Loosvelt | February 10, 2010

  • My Vault
Despite booking a fourth-quarter profit, UBS AG failed to hit its numbers for 2009, forcing the bank to exercise clawback provisions on several bankers' bonuses.

claws

It's the first time a big bank has had to break out the claws since the provisions were enacted last year in response to government pressure on banks to minimize their risk-taking.

For 2009, UBS posted a loss of 2.74 billion Swiss francs, which wasn't all that bad considering it lost 21.3 billion francs in 2008.

Filed Under: Finance

Close button

Get tips on interviewing, networking, resumes, and more directly to your inbox.

No Thanks

Get Our Career Newsletter

Interview, resume and job search tips emailed directly to you.