|
Zurich, November 5: : Swiss bank UBS AG said its chairman and board may repay previously granted bonuses as part of a report on pay at the company due at a shareholder meeting later this month.
UBS, the world's largest wealth manager, originally called the meeting for Nov. 27 in Lucerne, to vote on a plan to recapitalise the bank under a government package to unload toxic assets from its balance sheet.
"The Board of Directors will make this status report for information purposes and outside of the agenda items of the Extraordinary General Meeting. No resolution will be adopted under this item," UBS said in a statement on Wednesday.
UBS shareholders will vote on the raising of 6 billion Swiss francs ($5.19 billion) from mandatory convertible notes to be placed with the Swiss government, which will have a 9.3 per cent stake in UBS once the notes are converted.
Switzerland's biggest bank also said it would transfer $60 billion of toxic assets into a new fund controlled by the central bank.
More from BANKING & FINANCE
Discuss this story on expressindia forums
|
|
 |
 |
 |
About Us | Contact Us | Advertisers | Site Map | Make us your homepage | Work for Us | RSS | Subscribe | Electronic Edition | Privacy Policy© 2010: The Indian Express Limited. All rights reserved throughout the world
