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UBS cuts bonuses for key bankers by 21% to $1.2m

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UBS paid 700 of its top bankers bonuses of $1.2m, a reduction of 21% as firms have taken the axe to compensation after dealmaking fees slumped.

The Swiss bank paid its senior bankers, known as key risk takers, from a $855m bonus pool last year, according to its annual compensation report published on 6 March.

These are staff whose actions can impact the overall risk profile of the bank — they received an average of $1.8m, made up of both variable compensation and salaries, down from $2.2m in 2021.The...

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