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MarketScreener Homepage  >  Equities  >  Swiss Exchange  >  UBS Group    UBSG   CH0244767585

UBS GROUP

(UBSG)
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UBS : revamps compensation scheme for 10,000 staff

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02/11/2019 | 06:14am EDT
FILE PHOTO: Logo of Swiss bank UBS is seen in Zurich

ZURICH (Reuters) - UBS has reorganised its pay policy for 10,000 back-office workers, Switzerland's biggest lender said on Monday, changing how their bonuses are calculated.

The staff -- mainly working in functions like human resources, marketing and communication -- will have their bonuses shifted from a variable scheme to a fixed percentage of their salary.

The move aimed to reduce uncertainty around compensation rather than to scale back the amount paid, the bank said.

"While not guaranteed, variable compensation is anticipated to be around one-half of a month's salary. In a good performance year for the group, variable compensation can be higher," UBS said in a statement.

UBS said the new process, which would apply to bonuses paid this year, would "streamline" the process of calculating payments.

(Reporting by John Revill; Editing by Michael Shields)

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Financials (CHF)
Sales 2019 29 363 M
EBIT 2019 6 060 M
Net income 2019 4 576 M
Debt 2019 -
Yield 2019 5,51%
P/E ratio 2019 11,37
P/E ratio 2020 9,49
Capi. / Sales 2019 1,77x
Capi. / Sales 2020 1,71x
Capitalization 51 930 M
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Mean consensus OUTPERFORM
Number of Analysts 24
Average target price 15,1  CHF
Spread / Average Target 13%
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Managers
NameTitle
Sergio P. Ermotti Group Chief Executive Officer
Axel A. Weber Chairman
Sabine Keller-Busse Group Chief Operating Officer
Kirt Gardner Group Chief Financial Officer
Michel Demaré Independent Vice Chairman
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