GENEVA, Switzerland, March 14 (UPI) -- Swiss bank UBS says it paid the new head of its investment unit $26 million to make up for the deal he left behind at Bank of America Merrill Lynch.
The package that amounts to a "golden handshake" for executive Andrea Orcel dwarfs the $9.3 million welcoming package the bank shelled out for Sergio Ermotti, the bank's chief executive officer, The New York Times reported Thursday.