Friday, 5th December 2008
Peter Kurer, the new chairman of Swiss bank UBS, said he will have a salary of Sfr10m (£5m), less than half as much as his predecessor Marcel Ospel.
Kurer told a Swiss newspaper that while he did not know the exact figure he would earn, as it partly depends on performance. He said the bank acknowledged bonuses would be below levels seen before the credit crunch.
Ospel reportedly earned around £13m a year.
Sebastian + Barquet, a three-year old design gallery based in New York and Chelsea, is opening a new gallery showing museum quality pieces in Mayfair next month, the first in London to focus on international modernism from the 1940s to the 1960s. Its opening exhibition is dedicated to American modernist design and is curated by celebrated architect Eric Parry.
Harrods, the luxury London-based retailer, is selling a diamond-encrusted shirt valued at £20,000, the world's most expensive shirt ever made. Although the shirt has not yet been sold, it puts paid to the idea of the wealthy having to reign in their spending as a result of the recession.
© 2008 eFinancialNews Ltd
2nd Floor, Stapleton House, 29-33 Scrutton Street, London, EC2A 4HU
Tel: +44 (0) 20 7309 7788
Company No 3089347
del.icio.us
Digg
Newsvine
reddit
StumbleUpon