The referendum campaigners point out that last year, UBS paid out a total of 2.5 billion Swiss francs in bonuses, at the same time as it reported a 2.5 billion franc loss. Pro-reform activists have calculated that it would take an ordinary bank employee as much as 385 years to earn the 18.5 million franc ($20 million) compensation package given to Orcel, the investment bank head, when he joined UBS from Merrill Lynch last year. Posted by Bobbi D
Posted on: Tue, 19 Nov 2013 18:22:42 +0000
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