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UBS’s New European Unit Handed Out $258 Million in Pay Last Year

The UBS AG company logo hangs above the entrance to the company's Broadgate offices in London, U.K., on Wednesday, May 20, 2015. UBS Group AG will pay $545 million to settle U.S. investigations into its role in manipulating currency and interest rates, removing two of the bank's biggest legal hurdles.
Photographer: Chris Ratcliffe/Bloomberg

UBS Group AG’s newly established European entity handed out 219.4 million euros ($258.4 million) in total pay last year, the first time the world’s largest wealth manager reported remuneration for the unit.

UBS said in a filing that it paid 45.2 million euros in bonuses to 1,695 employees at the unit, which bundles the wealth management operations in Europe and has a license for investment-banking services. Three employees earned between 1.5 million euros and 2 million euros in 2016.