Activists Target C Suisse, UBS Pay

Pot Of Gold

A Swiss activist investor group called on Friday for shareholders to reject what it called excessive executive pay at banks UBS and Credit Suisse , echoing public anger over corporate largesse in Switzerland.

But Reuters reports that the investor group is unlikely to marshall enough support to vote down UBS and Credit Suisse's compensation plans after influential U.S.-based shareholder advisory firm ISS came out in support of both banks on pay.

'Despite the progress made by the two banks with regard to the executive remuneration structure, the amounts paid are still too high', said the group, Ethos, whose views are widely followed by Swiss pension funds.

Anger at big bonuses drove Swiss citizens to vote for some of the world's strictest controls on executive pay last month, forcing public companies to give shareholders a binding vote on compensation in future.

Hit the link below to access the complete Reuters article:

Activist investors urge pay revolt at UBS, Credit Suisse

Fitch strips UK of triple-A rating, austerity debate deepens

Blackstone ends pursuit of Dell: sources

JefferiesAnd the Best Place to Work in the global financial markets 2017 is...

Register for Financial Markets News Alerts