UBS chairman Peter Kurer today revealed the Swiss bank has clawed back a further Sfr22m (€14m) in compensation from senior staff, as shareholders attending an extraordinary meeting to vote on plans to raise Sfr6bn from the country’s government instead focused on the thorny issue of pay and bonuses.

At today's meeting in Lucerne, the tone among the 2,395 shareholders present was one of cautious support for the efforts made by Kurer and UBS' new board to tackle the problems that have engulfed the Swiss bank for the past year. The mood contrasted sharply with the bank's hostile extraordinary meeting in February, where investors took the stand to describe UBS as a "casino" and the bankers responsible for its losses "thieves".