Jump to content
House Price Crash Forum
Sign in to follow this  

U B S Boss Takes 90% Paycut Due To Huge Hpc Losses

Recommended Posts


Tuesday March 18, 02:28 PM

UBS chops chairman's pay by 90%

| | |

LONDON (ShareCast) - Chairman of Swiss bank UBS (Virt-X: UBSN.VX - news) , Marcel Ospel, saw his wages slashed by 90% in 2007 following a (Advertisement)
huge $18bn write-down that plunged the group into a loss for the year.
But Ospel, who earned 26.6m Swiss francs in 2006,
still took home around 2.5m Swiss francs, or $2.6m
, despite a disastrous year due to its exposure to high risk US sub-prime mortgages.
He said last December that he would not expect to be paid a bonus for the period.

The ex-NR boss paid himself out a huge bonus before handing the ship over to Gordon. IIRC Goldman Sachs bosses divided up a fedw billion having shorted the subprime market. It will take decades to restore confidence in the markets due to the level of corruption and incompetence that exists at the top.

Share this post

Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 293 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?

      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%

  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.