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UBS faces pressure from Swiss authorities to increase capital reserves following its takeover of Credit Suisse, which could cost up to CHF 25 billion. The bank is lobbying against tighter regulations, fearing it may lose competitiveness and shareholder dividends, while also hinting at the possibility of relocating if conditions worsen. CEO Sergio Ermotti has expressed frustration over the regulatory challenges, emphasizing UBS's reliance on its Swiss identity.
Proxy advisor Ethos has sharply criticized UBS for excessive executive compensation, particularly for CEO Sergio Ermotti, whose pay exceeds the average by 53% compared to Swiss peers. Ethos also opposes the bank's share buyback program and highlights shortcomings in its sustainability report, noting a decline in commitments to climate change and insufficient emissions data. The foundation urges shareholders to reject these agenda items at the upcoming Annual General Meeting.
The Swiss Shareholders' Association Ethos is urging UBS shareholders to oppose the bank's executive pay, share buyback program, and sustainability report ahead of the April 10 Annual General Meeting. Ethos criticizes excessive executive compensation, the planned share buybacks amid calls for stronger capital requirements, and the dilution of sustainability commitments, highlighting gaps in emissions data disclosure.
UBS faces shareholder backlash as the Ethos association recommends rejecting the bank's remuneration, share buyback program, and sustainability report at the upcoming AGM. Ethos criticizes the high executive pay and potential for excessive risk-taking, while also highlighting gaps in UBS's sustainability commitments. The bank's management compensation for 2024 is said to reflect a performance-based approach, despite concerns over its alignment with current capital requirements.
Ethos, a foundation advocating for good corporate governance, urges UBS to prioritize replenishing its equity over high executive compensation and share buybacks. At the upcoming general meeting, it proposes rejecting the remuneration and sustainability report, citing excessive pay compared to peers and concerns over risk-taking behavior. Ethos emphasizes the need for a robust equity base to ensure long-term stability, criticizing UBS's recent sustainability efforts and lack of transparency in its climate strategy.
Proxy voting consultancy Ethos has urged UBS shareholders to reject the bank's executive compensation, share buyback program, and sustainability report at the upcoming annual general meeting. Ethos criticized the high remuneration compared to other European banks, warning it could promote excessive risk-taking, and called for stronger capital base and more ambitious climate and diversity targets. Shareholders will vote on various compensation items for the 2024 and 2026 financial years on April 10.
Ethos has urged UBS shareholders to reject the bank's executive remuneration, share buyback program, and sustainability report at the upcoming annual general meeting. The firm criticized the high compensation levels, which it claims could promote excessive risk-taking, and called for a stronger capital base while expressing concerns over diluted climate change and diversity targets. Shareholders will vote on these issues on April 10.
Proxy advisory firm Ethos has urged UBS shareholders to reject the bank's executive pay, share buyback program, and sustainability report at the upcoming annual general meeting. Ethos criticized the high executive compensation relative to European peers, warning it could promote excessive risk-taking, and called for a stronger capital base while condemning diluted climate change and diversity targets. Shareholders will vote on these issues on April 10.
Ethos criticizes UBS for its high executive compensation, which it argues encourages excessive risk-taking, and advocates for replenishing equity instead of share buybacks. The foundation also highlights shortcomings in UBS's sustainability efforts, particularly regarding transparency and climate goals, urging a focus on long-term stability over short-term gains.
Ethos criticizes UBS for high executive compensation and share buybacks, urging the bank to focus on replenishing equity instead. The foundation highlights that UBS's CEO pay remains among the highest in Europe, which could encourage excessive risk-taking, and calls for improved sustainability transparency.
Vincent Kaufmann
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