UBS to Focus Bonuses on Star Performers and Millennials
- Bank said to pay flat bonuses for 2017 compared to last year
- Investment bank chief has said it would be a ‘tricky’ year
Photographer: Chris Ratcliffe/Bloomberg
This article is for subscribers only.
UBS Group AG’s investment bank allocated the biggest discretionary payouts to the highest revenue generators and younger employees as competition from other industries intensifies, according to people with knowledge of the matter.
The strategy is in line with its rivals and comes as overall awards are on average flat at the unit for 2017 compared to the previous year, the people said, asking not to be identified because the decisions are private. UBS informed its staff about the payouts on Feb. 7, they said. The company declined to comment.