Jerker Johansson got paid $24 million – for 14 months of work.

• UBS chairman: Don't sue former executives
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The chairman and chief executive officer of UBS Investment Bank, Swede Jerker Johansson, was removed after just one year. He was just one of several top-executives that were force to leave the bank due to decisions that worsened the bank's exposure to the credit crisis.

The Swiss financial services company on Wednesday face opposition from shareholders on its annual general meeting over enormous losses and massive costs to remove several top executives.

Hurt by losses amounting to billions of francs during the financial crisis, as well as tax evasion lawsuits in the United States, the bank has been struggling to repair its image over the past year.

The bank has added a proposal to discharge members of the board of directors and group executive board for the years 2007-2009 to the meeting's agenda. The contested proposal came after investigations showed no evidence of criminal conduct of individual executives in relation to the losses incurred in the US mortgage market, and in the US tax evasion probe, said the bank.

But groups of shareholders now want top executives, such as Jerker Johansson, former-chairman Marcel Ospel and former-chief executive Marcel Rohner to be held responsible.

UBS's top management received cash, stocks and options worth CHF68.7 million ($66 million) in 2009, according to Dow Jones Newswire. Executives who left the bank last year--such as Marcel Rohner and Jerker Johansson--received CHF41.28 million.

During his 14 month at the bank Jerker Johansson got paid 175 million kronor ($24 million) in bonuses, daily Svenska Dagbladet wrote.

“We have never heard of anything like this. Such a bonus in such a short time, with no result, is totally unacceptable. Jackson got a jackpot, but shareholders are furious," said Dominique Biedermann, head of the Ethos Foundation, one of UBS' shareholders, to the newspaper.

Jerker Johansson was head of UBS Investment Bank from February 2008 to April 2009. He "resigned with immediate effect" and was replaced by Alex Wilmot-Sitwell and Carsten Kengeter as Co-CEOs of the Investment Bank.

The chairman of UBS will apologise Wednesday on behalf of the Swiss banking giant for helping some US clients to evade taxes, an act which sparked lawsuits from US tax authorities.

"I am aware that UBS triggered this problem itself and we are deeply sorry," Kaspar Villiger, chairman of the bank, will say, according to a copy of his speech to be delivered to shareholders at the bank's annual general meeting.