UBS to lift investment bank bonus pool by 20%: Bloomberg News

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Swiss bank UBS is looking to raise the bonus pool for its investment bankers by as much as 20% after a surge in trading revenue helped it post the highest profit in five years, Bloomberg News https://bloom.bg/3rrTGCs reported on Friday, citing people with knowledge of the...

FILE PHOTO: The logo of Swiss bank UBS is seen in Zurich, Switzerland October 25, 2018. REUTERS/Arnd Wiegmann/File Photo

Wealth managers in the Asia Pacific regions are expected to receive some of the higher rewards, with bonuses increasing by 10%, Bloomberg said. Some private bank employees in Europe will see their bonuses lessened between 10% and 15%.Banks across the world have wrestled with the uneven impact of the COVID-19 pandemic, as soaring stock markets boosted trading while national lockdowns had crippling economic consequences, leaving lenders braced for coming defaults.

 

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