A pair of senior executives of the U.S. asset management business of Julius Baer, the Swiss wealth business, earned compensation packages worth $120 million in the first nine months of 2007, according to a regulatory filing ahead of the unit's flotation planned for this year.

Richard Pell, chief executive and chief investment officer of Julius Baer Investment Management, and Rudolph-Riad Younes, head of international equity, together earned compensation packages worth $120 million for the first three quarters of last year, causing pretax earnings to be reduced by 57% to $92 million, said an analyst.

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