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Big Bonuses Seen Again for Wall St
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<blockquote data-quote="Andy Nguyen" data-source="post: 4120" data-attributes="member: 1"><p><strong>A Salary Cap For UBS Bankers and traders: $750,000 Max</strong></p><p></p><p>By Anita Raghavan and Dana Cimilluca </p><p> </p><p>NEW YORK -- There won't be any million-dollar babies among bankers and traders at the securities arm of UBS AG this year.</p><p> The Swiss financial giant has told investment bankers and traders on Wall Street and elsewhere that their 2007 cash pay will be capped at $750,000, with a much greater portion of their total compensation coming from stock than in other years. Previously, there was no limit on the cash amount they could get paid.</p><p> The move is among the first signs of a clampdown on pay in the financial world amid the credit crunch.</p></blockquote><p></p>
[QUOTE="Andy Nguyen, post: 4120, member: 1"] [b]A Salary Cap For UBS Bankers and traders: $750,000 Max[/b] By Anita Raghavan and Dana Cimilluca NEW YORK -- There won't be any million-dollar babies among bankers and traders at the securities arm of UBS AG this year. The Swiss financial giant has told investment bankers and traders on Wall Street and elsewhere that their 2007 cash pay will be capped at $750,000, with a much greater portion of their total compensation coming from stock than in other years. Previously, there was no limit on the cash amount they could get paid. The move is among the first signs of a clampdown on pay in the financial world amid the credit crunch. [/QUOTE]
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