Ann Godbehere, the former Northern Rock finance director whose £173,000 expenses bill sparked an outcry, is one of three new board members nominated to join the board at UBS, the struggling Swiss bank.

Godbehere, who worked for the nationalised British mortgage lender until January, will be paid an annual base salary of SwFr325,000 (£195,000) if UBS shareholders approve her appointment at the annual meeting in mid-April.

She will qualify for additional payments if she ends up sitting on any of UBS's special committees.

Financial Times