What would a Swiss banker want for his birthday? - by Tom Bawden
The chairman of UBS is not Mr Popular in Switzerland. Apart from being tarnished with the Swiss bank's sub-prime related writedowns, the largest in Europe, his hefty pay package has also raised eyebrows. Blick, the Swiss daily tabloid newspaper, ran a front page story in 2006 on Mr Ospel's remuneration, reportedly SwFr26 million (£12 million), making him the highest-paid executive in Switzerland. A chain-smoker who is known for his taste for high living, Mr Ospel has removed most of UBS's top management since the sub-prime debacle erupted.
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