ZURICH: Strong first-quarter results are likely to ensure UBS wins shareholder backing for its pay plans at a meeting on Thursday, though a $26 million signing-on award for investment bank chief Andrea Orcel is bound to attract criticism.
Former Bundesbank president Axel Weber, who has been chairman of the Swiss bank for the past year, will have the job of handling any opposition. And some of it could be personal, after he pocketed 4 million Swiss francs ($4.3 million) for joining, on top of his basic pay and an award of UBS shares.
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