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UBS Peter Kurer sets example will earn less than 10 million.

By Amarendra Bhushan for CEOWORLD Magazine Updated:October 5, 2008

What a leader. UBS will not establish a limit up of the size of salaries, however management will earn less, than before crisis. The head of the Swiss bank has declared it in interview to the Swiss newspaper Blick.

In reply to a question, whether restriction in salaries will be established, Peter Kjurer (Peter Kurer) has declared: “Is not present. But unconditionally all salaries to management will more low after crisis, than were to it, in some cases much more low. I consider it correct. But in some special cases of the salary more than 10 millon Swiss francs ($8,9 million) are still possible”, – he has told.

Kyurer also has informed, that UBS now has resources to develop the tendency of care of clients to smaller players in the opposite direction. This week the bank has extended the application, that in the third quarter it will receive a narrow margin after a year of losses, having assumed, that it has started to refract the tendency in spite of the fact that credit crisis has amazed other banks. In another news Peter Kurer, will earn less than 10 million Swiss francs ($8.83 million) this year.

Peter Kurer profile:

Peter Kurer was elected to the Board of Directors at the AGM 2008 and thereafter appointed as Chairman. He chairs the Corporate Responsibility Committee and the Strategy Committee. Peter Kurer was elected to the Board of Directors at the AGM 2008 and thereafter appointed as Chairman. He chairs the Corporate Responsibility Committee and the Strategy Committee. Mr Kurer served as Group General Counsel since 2001, when he joined UBS, and as member of the Group Executive Board since 2002. Between 1991 and 2001 he was a partner at the law firm Homburger AG in Zurich. Between 1980 and 1990 he was with the Zurich office of Baker & McKenzie law firm, first as associate, later as partner, having been a law clerk at the District Court of Zurich. Mr Kurer graduated as a ‘doctor juris’ from the University of Zurich and was admitted as attorney-at-law in Zurich. He holds an LL.M. from the University of Chicago and was born on 28 June 1949. He is a Swiss citizen.

Peter Kurer has been the Group General Counsel since 2001, when he joined UBS. Between 1991 and 2001 he was a partner at the Homburger law firm in Zurich. Between 1980 and 1990 he was with the Zurich office of Baker & McKenzie law firm, first as associate, later as partner, having been a law clerk at the District Court of Zurich. Mr Kurer graduated as a doctor iuris from the University of Zurich and was admitted as attorney-at-law in Zurich.

He holds an LL.M. from the University of Chicago and was born on 28 June 1949. Peter Kurer is a member of the Visiting Committee to the Law School of The University of Chicago, a member of the Board of Trustees of a foundation which acts as an advisory board to the University of St. Gallen Program for law and economics, and a member of the Committee of Continuing Education, Executive School of Management, Technology and Law, University of St. Gallen.

Peter Kurer is a member of the Visiting Committee to the Law School of The University of Chicago, a member of the Board of Trustees of a foundation which acts as an advisory board to the University of St. Gallen Program for Law and Economics, and a member of the Committee of Continuing Education, Executive School of Management, Technology and Law, University of St. Gallen.

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