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UBS Shareholders Join Protest Over Excessive Exec Pay

Law360, New York (May 3, 2012, 5:36 PM EDT) -- With UBS AG becoming the latest bank to encounter stiff opposition to its executive pay packages on Thursday, shareholders are asserting themselves more than ever this earnings season and showing they are fed up with paying lavish compensation for poor results, experts say.

With profits down, in part due to a $2.3 billion loss incurred by a purported rogue trader, UBS saw nearly 37 percent of shareholders vote against its 2011 remuneration report during Thursday's annual meeting. A scant 53 percent of investors approved of management's...
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