UBS boosted the 2017 bonus pool for its investment bankers in the Asia-Pacific region by about 6 percent, reflecting a rebound in dealmaking and efforts to retain junior staff focusing on China, according to people familiar with the matter.
Bloomberg News reports that total compensation for junior bankers in the region rose by about 12 percent on average, the people said, asking not to be identified because the information is private. Some junior bankers focusing on China received raises of 15 percent to 20 percent as UBS seeks to reverse a series of defections to Chinese corporates and private equity firms, one of the people said.
UBS, like many of its competitors, is increasingly tilting bonus payouts toward the biggest revenue generators and younger bankers who might otherwise defect for other industries. The larger bonuses in Asia mark a reversal from the previous year, when the regional investment banking payout pool was cut by about 15 percent .
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