UBS Cuts 2010 Bonus Pool

Swiss bank UBS AG (UBS) bowed to shareholder pressure Tuesday by cutting its 2010 bonus pool by 10% amid mounting public and political concerns that the high payouts some say fueled the financial crisis are making a comeback. The Zurich-based bank approved a total bonus pool of 4.32 billion Swiss francs ($4.53 billion) for 2010 compared with 4.78 billion francs the previous year, and will defer 1.55 billion francs of those payments to future years. – The WSJ

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