The former chief executive, chief financial officer and investment bank head at UBS, which plunged to a loss last year on massive writedowns, shared Sfr33m (€21.3m) in compensation before giving up their roles during the year, and the trio are due a further Sfr60m over the next two years under the terms of their contracts.

UBS said members of its group executive board who stepped down last year, who comprise Peter Wuffli, who was ousted as group chief executive last July, ex-chief financial officer Clive Standish and investment bank chief executive Huw Jenkins, both of whom stepped down at the end of September, received nearly Sfr33m in combined compensation for their time in office last year, according to the bank’s annual report published today.