UBS ‘boosts bonuses’ to keep top wealth staff

UBS bank is raising the payouts earned by its wealth advisers in the United States, with the aim of retaining and hiring personnel at a time of intense competition for talent. +Get the most important news from Switzerland in your inbox Earlier this month, the Swiss bank announced internally that it would increase rewards for the several thousand wealth advisers in the US, according to people familiar with the matter, who asked not to be identified discussing internal business decisions. In a presentation, Rob Karofsky, co-head of Global Wealth Management, and Michael Camacho, head of US Wealth Management, detailed the following changes to take effect Jan. 1: Increasing the pay rate for advisers who generate between $1 million and $3 million of revenue. Increasing the amount of the payout in cash for advisers who generate between $3 and $4 million. Creating a new compensation tier for top advisers who bring in more than $20 million a year in revenue. The changes follow reports of ... Full story here Are you the author? Previous post See more for 3.) Swissinfo Business and Economy Next post
Tags: Featured,newsletter