Former UBS managers hand back bonuses
Senior employees who have left the troubled Swiss banking group UBS in the last year have waived or repaid SFr70 million ($58 million) in salaries and bonuses. Chairman Peter Kurer revealed details of the firm's bonus clawback during an EGM on November 27.
Previous board head Peter Wuffli declined the SFr12 million he was contractually entitled to while former board members Marcel Ospel, Stephan Haeringer and Marco Suter returned or waived an additional SFr33 million. A number of other former
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