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UBS banker gets $26m 'golden hello'

Andrea Orcel - BBC

The new head of UBS's investment bank Andrea Orcel received a $26m (£17m; 20m euros) "golden hello" in 2012, the bank's annual report has revealed. Mr Orcel is in the process of overhauling the investment business, with 2,000 job losses expected.

 

Citigroup shareholders snub execs on pay

Vikram Pandit

Shareholders of Citigroup rejected a board-approved pay package for CEO Vikram Pandit and other top executives, sending a loud and clear message that executive compensation needs to be tied to performance, or else.

Senh: Nice. That's how it should be done. What message are companies sending to their executives when they raises and bonuses even if the company's not doing well.

 

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