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Northern Rock troubleshooter lands a job at UBS
16 Mar 2009
Ann Godbehere, the banking troubleshooter who was paid almost £1 million for 10 months' work at Northern Rock, has landed another lucrative position with UBS.
She is joining the board at the struggling Swiss bank just as it plans to cut 5000 top jobs.
Swiss weekly SonntagsZeitung says up to 2500 management positions could go in UBS's wealth management division, which accounts for 50,000 of the bank's total 77,000 staff.
Godbehere is part of a board shake-up as UBS attempts to recover from the banking crisis that has seen it make more writedowns than any other European bank and accept government backing.
She cost the UK taxpayer £173,000 in expenses last year as she travelled between her home in Switzerland and the UK while working at Northern Rock.
She was paid £959,000 for little more than 10 months' work.
Reader views (3)
I'm a fully qualified accountant with a Masters in preventing Business failure, and I am confident that I could do a better job than her for £50K. Why they see fit to pay these people £1million is beyond me.
- A0075, United Kingdom, 19/08/2009 13:21
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These Nu Labor guys spend money like there is no tomorrow right?
- Georgie, Islongton, London, 16/03/2009 12:51
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if she's that good, why did we not keep her for our banks?
- Graham Grimshaw, Ruislip Uk, 16/03/2009 09:24
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