A Statement was released today by Chairman Peter Kurer during a UBS shareholders meeting to vote on the bank's plan to accept government aid. In his statement Kurer said, "I would very much like to see more bonuses waived or returned in the interest of the bank. I am therefore continuing to hold discussions on the topic."
The exec's who have refused or returned bonuses is former CEO Peter Wuffli (12 Million Franc), the ex-chairman Marcel Ospel and former board members Stephan Haeringer and Marco Suter, have either returned or refused an additional 33 million francs.
Other former executives not mentioned have given up a further 22 million francs, Kurer said in his statement.
In a concession to shareholders Kurer also said the bank will allow another investigation into its losses and the role of former executives, including whether it should take legal action against any individuals.
Earlier reports from both UBS and the Swiss Federal Banking Commission found no evidence of individual breaches of duty by any current or previous senior executives, Kurer added.
"There is currently no actual or legal evidence that would lead one to believe a lawsuit regarding responsibility would be successful against former or present senior executives," he said.
Shares of UBS rose 3% in midday trading.
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