The Swiss giant's investment bankers can count of a sharp rise in bonus pool after healthy trading in the pandemic's early days underpinned annual profits.

UBS is poised to raise its bonus pool for its more than 5,300-strong investment banking unit, according to «Bloomberg» (behind paywall), which cited a surge in trading profits. The Swiss bank's revenue in a global markets – trading – division climbed by more than one-quarter to $7.14 billion on the year.

This appears to contrast with a reported ten percent cut for the overall bonus pool at crosstown rival Credit Suisse, from 3.17 billion Swiss francs ($3.52) in 2019. Last year, UBS' overall pool stood at $2.7 billion.

Asia Buoyant, Europe Cut

UBS' bonuses come against the backdrop of the bank's healthiest profit in five years, as it withstood the first pandemic year with minimal credit losses and cashed in on a trading boon. The investment bank's pre-tax profit more than tripled to $2.48 billion.

By contrast, UBS' private bankers can expect their bonuses to hold steady or only rise marginally, «Bloomberg» reported – but with massive regional differences. Those in Asia will see their year-end awards rise by an average of ten percent, while Europe's wealth managers face a cut of ten to 15 percent, the outlet reported.