Shareholders in UBS backed a 13 billion Swiss franc ($11.94 billion) capital injection from Singapore and an unidentified Middle East investor but heaped scorn on the bank's chairman, Marcel Ospel, over subprime losses.
The vote, carried by a large majority at an extraordinary shareholders' meeting, came after Ospel appealed to investors, saying the funds were vital to the bank's future.
"Today we need your backing for a massive strengthening of our capital base," Ospel told the gathering. "We believe that this measure is absolutely necessary."
Ospel, 58, has survived at the helm of the giant Swiss bank after culling top managers over the past year as UBS chalked up $18 billion in charges following disastrous investments in U.S. subprime mortgages.
The veteran chairman said he could not currently tell whether there was the need for further writedowns on its massive portfolio of subprime-related investments.
Europe's worst writedowns triggered a loss for 2007, the bank's first since its inception, and forced it to seek 19 billion Swiss francs in emergency capital to repair its depleted capital ratios.
Despite facing calls for his resignation, Ospel said he would not "thoughtlessly relinquish" his responsibilities. "I intend to ensure that UBS gets back on the road to success."
He also said UBS would redouble efforts to cut its exposures to mortgage-backed securities and derivatives.