Peter Kurer, chairman of UBS, has come in for stinging criticism as almost 13% of shareholders at the Swiss bank's annual meeting voted against or abstained from voting on his appointment. The investor resistance came despite pledges by Kurer to overhaul the group's corporate governance.

Kurer achieved the majority of votes he needed to be named the new chairman, attracting 87.17% of the vote. However, a larger number voted against him (6.68%) or abstained (6.15%), than on the votes for the other board appointments.