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By Bloomberg May 26, 2023 3:29:44 PM IST (Published)
Relationship managers at both firms will receive commissions of 15 basis points, or $0.15 for each $100 in new client money they can bring in, according to people familiar with the matter, asking not to be identified discussing private information.
UBS Group AG and Credit Suisse Group AG are offering a rare incentive for their wealth bankers in Asia to bring in fresh cash, underscoring the challenges the former Swiss rivals face to ensure stability as they seek to complete a government-orchestrated merger.
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Relationship managers at both firms will receive commissions of 15 basis points, or $0.15 for each $100 in new client money they can bring in, according to people familiar with the matter, asking not to be identified discussing private information.
That’s more attractive than existing bonuses at the two firms and the typical incentives in the industry, which are usually tied to inflows of a narrower slice of fee-generating assets and can often include other hurdles that must be met, said the people.