UBS Revamps Staff Performance Evaluation, NZZ am Sonntag Says

UBS AG is revamping how it evaluates employee performance to boost internal competition, NZZ am Sonntag reported, citing a spokesman for the bank.

UBS will be giving grades to employees ranging from 1 for “excellent performance,” to 5 for “unsatisfactory performance,” the newspaper said, citing Serge Steiner, a spokesman for the bank. Managers will be asked to give the lowest grades of 4 and 5 to between 20 percent and 35 percent of their staff, according to the newspaper.

To contact the reporter on this story: Elena Logutenkova in Zurich at elogutenkova@bloomberg.net

To contact the editor responsible for this story: Frank Connelly at fconnelly@bloomberg.net;

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