Eating what you kill.
Bloomberg News reports that UBS's investment bank allocated the biggest discretionary payouts to the highest revenue generators and younger employees as competition from other industries intensifies, according to people with knowledge of the matter.
The strategy is in line with its rivals and comes as overall awards are on average flat at the unit for 2017 compared to the previous year, the people said, asking not to be identified because the decisions are private. UBS informed its staff about the payouts on February 7th, they said. The company declined to comment.
Andrea Orcel, head of UBS’s investment bank, said in an interview in December that 2017 would be a “tricky year" for compensation in the industry, but that his company had done slightly better than a year earlier.
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