UBS paid its top investment banker Carsten Kengeter 29% less in 2010, a period when the Swiss bank's chief executive Oswald Grübel relinquished his bonus despite the bank's swinging to a full-year net profit from a loss.

Zurich-based bank said Kengeter, who runs UBS's investment bank, earned Sfr9.3m ($10.1m) in overall pay, down from Sfr13.1m in 2009. The 2010 compensation includes Sfr8.3m in various cash and stock bonuses, some of which is blocked and subject to clawback provisions based on the bank's performance.