"UBS has still not learnt from the mistakes of the past, " said the campaigning shareholder Brigitta Moser-Harder.

BBC: UBS banker gets $26m 'golden hello'

Brigitta Moser-Harder, an activist shareholder who spearheaded the yes-campaign together with entrepreneur Thomas Minder, said that the result, one of the most emphatic yes-votes ever in a Swiss referendum, sent a clear signal to companies both within and beyond Switzerland's borders.

CNN: Swiss vote for executive pay curbs