ZURICH Feb 4 Swiss bank UBS said it
is considering following rivals and paying an extra allowance to
staff to comply with new European Union rules that will cap the
bonuses of its London staff to twice their salary.
"There are various options and it goes without saying one of
those is to use allowances that are supplementary, and can be
included in the fixed compensation framework," Chief Executive
Sergio Ermotti said on a conference call.
He said UBS would decide in the "next couple of months" the
best way to comply with the EU directive. Rivals including
Barclays and Goldman Sachs plan to introduce
monthly allowances that count as fixed pay, rather than bonus,
for staff affected by the rules.