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UBS gives pensioners €780 reward for loyalty

Jason Rhodes

Published 31/01/2011 | 05:00

UBS is fighting to improve its image and win back customers who left in droves after Switzerland's top bank required a government bailout because of huge losses on toxic assets. Photo: Getty Images
UBS is fighting to improve its image and win back customers who left in droves after Switzerland's top bank required a government bailout because of huge losses on toxic assets. Photo: Getty Images

UBS will pay its Swiss pensioners 1,000 Swiss francs (€780) to thank them for their loyalty and acting as "credible ambassadors" through the financial crisis, when the bank booked the biggest loss in the country's history.

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UBS is fighting to improve its image and win back customers who left in droves after Switzerland's top bank required a government bailout because of huge losses on toxic assets.

A letter was sent to just over 16,000 pensioners of the UBS pension scheme, telling them they would receive the payment on January 31, UBS spokesman Jean-Raphael Fontannaz said.

Credible

"We would like to thank you sincerely for your valued support of our bank over recent years. As a pensioner you are a loyal and credible ambassador for UBS and we wish to express our appreciation to you at a personal level," chief executive Oswald Gruebel and chairman Kaspar Villiger said in the letter.

"We would be pleased to continue to count on you as an ambassador of UBS in the future." The bank's campaign to restore clients' faith includes a revamp of its 300 Swiss branches and a dress code for retail staff.

Irish Independent

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