UBS increases wages to prevent investment bankers from job-hopping

Beijing time May 18 morning news, according to foreign media reports, UBS announced in Sunday, the bank has raised the pay of some investment bankers to prevent them from being dug away by rivals.　　Andreas Kern, a spokeswoman for UBS, said it was normal for Andreas to adjust wages according to market conditions.　　Swiss newspaper Sonntag reported earlier in Sunday that hundreds of of executives at UBS's investment banking division had raised their salaries by 50% per cent to compensate for their bonuses, whose average salary was 270,000 Swiss francs (about $243,200).　　UBS declined to comment on the details of the report. Casper Filigore, chairman of UBS's board of directors, said in Saturday that key employees in some of UBS's important areas were being poached by rivals and that the bank must respond. (Ning String)