The main focus of this question is to understand the effect that the credit crisis and the
downturn have had on pay, and what has been wrong with pay. Part of the answer is to find
the changes that have occurred in the UBS and Credit Suisse in order to reward strategies, and
the communication that has taken place due to the financial crisis. The primary goal is to find
the lessons that could be learned from the financial crisis. The special market characteristics
of the banking industry are derived, and CEO and chairperson compensation characteristics
set the context for the case study analysis, while the response of pay policies and practices to
the increased regulations is studied.