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Compensation and incentives 
On 12 August 2008, UBS announced the separation of its business groups into business divisions, with incentives for management and staff in each business division aligned directly with its financial results. This has been achieved through a centrally managed change program that includes the development of revised incentive systems to reward divisional management and staff for shareholder value creation in their own division.
As part of this, beginning in 2009, UBS has adopted a new compensation model for the BoD and the GEB that has a long-term focus and is more closely aligned with the creation of value for the firm. (Refer to Compensation principles 2009 and beyond for UBS senior executives for more information.)
| UBS's compensation programs |
UBS's compensation programs are results-oriented and market-focused. Total compensation is linked to UBS's business objectives, and pay and incentive programs are designed to pay for performance. UBS's total compensation and benefits philosophy has five guiding principles which require UBS to:
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Note: With regard to fringe benefits, it is UBS's philosophy to provide benefits at market median in its major operations.
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| UBS has received numerous awards for its Diversity. | | | | | |
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