UBS Lowers 2011 Bonus Pool By 40%

UBS AG

cut the bank's overall bonus pool by 40% for 2011. UBS lowered the bonus pool to 2.6 billion Swiss francs ($2.8 billion). In 2011, UBS' net profit declined to CHF4.16 billion, versus CHF7.53 billion in the year-ago period. UBS shares closed at $14.01 yesterday.