Swiss bank UBS has pressured ex-bank executives to pay back or forego €45.2 million (CHF 70 million Swiss francs) in bonuses after record losses forced the bank to take aid from the Swiss state.

“I would very much like to see more bonuses waived or returned in the interests of the bank,” Chairman Peter Kurer told a shareholders meeting in Lucerne, Switzerland, on Thursday, prompting applause from the almost 2,400 investors present.“I am therefore continuing to hold discussions on this topic.”

Switzerland’s biggest bank, which last month received a €46 billion public aid package, had faced calls to sue for return of bonuses from managers that left the bank in the aftermath of subprime-related losses.

Former Chairman Marcel Ospel and two former colleagues on the board offered to forego €21.3 million in pay this week.

Former CEO Peter Wuffli waived his entitlement to €775,000.

UBS reported about €38 billion of writedowns linked to the the collapse of the US subprime mortgage market, more than any other bank in Europe.

Several banking groups, including Barclays and Goldman Sachs, have agreed not to pay bonuses to senior managers this year.

UBS announced a new compensation model last week that will be focused on the long-term and more closely aligned with the value creation of the firm.

On Wednesday on the eve of Thanksgiving Day and one day after announcing strict limits on salaries and bonuses for its top tier of executives, AIG revealed in a regulatory filing that some of those executives will receive millions in “retention bonuses” next year.

AIG disclosed that Jay Wintrob, an executive vice-president, had delayed the first instalment of his $3m retention bonus from Dec to April 2009 and will receive the second instalment, originally scheduled for Dec 2009, in April 2010. David Herzog, AIG’s CFO, also opted for the later payment schedule.

The retention bonuses for 130 key executives were disclosed by AIG in September, after the US government rescued the group by purchasing 79.9% of it for $85bn. After that, Edward Liddy, the former Allstate chairman, was named chief executive and AIG offered retention bonuses to Wintrob, head of AIG’s retirement services division, among others. In October, a US Congressional committee revealed that the company spent $440,000 on a weekend retreat in California for senior performers.

In early Nov., a second huge bail-out package, ramped up government support to $150 billion.