Sunday, 8th November 2009

 

23 May 2008 - Press Briefing

UBS launches bonus plan to boost assets

UBS has launched a bonus plan for its brokerage business in the US to attempt to boost its market share, according to a Reuters report.

The plan gives brokers the ability to receive a bonus of up to 0.1% of net new client assets. UBS also said it will pay branch staff up to 0.03% of total assets raised by an office.

The scheme is on top of existing UBS compensation plans and gives advisers rewards for selling any number of investments, compared with product-centred campaigns of most rival firms.

The report said the move was designed to help UBS compete in a fiercely competitive market.

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Brummel

Relocation, relocation, relocation

Banks have never been shy of firing staff at the merest whiff of a downturn. First the fat, then the muscle and finally the bone. In the past, cuts have been so deep that firms have found it hard to benefit when the markets rebounded, paying over the odds to restaff at speed. Such wild oscillations in staffing numbers are known as “doing a Merrill”.

Rich Monitor

Sotheby's 3Q loss widens

Sotheby's third-quarter loss widened as the art auction house posted a worst-than-expected decline in revenue and a tax expense.

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