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UBS CEO Sergio Ermotti received a total compensation of 14.9 million Swiss francs (15.4 million euros) for fiscal 2024, reflecting a 3.7% increase from the previous year. His package includes a fixed remuneration of CHF 2.8 million and variable components totaling CHF 12.1 million. Ermotti, who returned to lead UBS in 2023 during the acquisition of Credit Suisse, previously served as CEO from 2011 to 2020.
UBS chief executive Sergio Ermotti was paid SFr14.9mn ($16.8mn) last year, maintaining his position as Europe’s highest-paid bank boss amid increasing scrutiny of executive compensation in Switzerland. His pay surpassed that of leaders at HSBC, Deutsche Bank, and Banco Santander.This disclosure comes as Switzerland's upper house has backed a motion to cap banking sector executive pay at SFr5mn, reflecting the political sensitivity surrounding remuneration following UBS's acquisition of Credit Suisse.
UBS CEO Sergio Ermotti's salary of CHF 14.9 million has sparked outrage, with proposals in Parliament suggesting a cap of five million francs for bank executives. Critics argue that such populist measures distract from necessary regulatory reforms, emphasizing that shareholders, not politicians, should determine executive pay. The Federal Council plans to link bonuses to long-term success to mitigate risks posed by major banks like UBS.
UBS CEO Sergio Ermotti is set to receive a salary of CHF 14.9 million for 2024, as disclosed in the bank's latest annual report. He earned CHF 14.4 million for the nine months of 2023. The bank has faced criticism regarding its pay policy following the takeover of Credit Suisse.
UBS CEO Sergio Ermotti earned 14.9 million francs in 2022, surpassing his predecessor Ralph Hamers, who earned 12.6 million. The total remuneration for the management team increased to 143.6 million francs, while Chairman Colm Kelleher's pay rose to 5.5 million. The political landscape remains tense, with the Socialist Party criticizing right-wing inaction on UBS regulation.
UBS CEO Sergio Ermotti earned 14.9 million francs in 2024, maintaining a similar salary to the previous year despite only nine months of service. His compensation includes a fixed salary of 2.8 million and a variable portion of 12.1 million, reflecting performance and risk alignment.The total management salary bill reached 143.6 million francs, slightly up from 140.3 million in 2023. Board chairman Colm Kelleher will receive 5.5 million francs, while the entire board's earnings for 2024-2025 will total 14.0 million, down from 15.2 million the previous year.
UBS CEO Sergio Ermotti's compensation for 2024 is set at 14.9 million Swiss francs, reflecting a slight decrease in variable pay amid ongoing regulatory scrutiny. Following the acquisition of Credit Suisse, concerns over the bank's size have prompted calls for stricter remuneration caps, with a parliamentary motion proposing limits between 3 and 5 million Swiss francs. The total compensation for UBS's Board of Directors reached 143.6 million Swiss francs, while the group-wide bonus pool increased to $4.7 billion.
UBS CEO Sergio Ermotti's compensation for 2024 is set at 14.9 million Swiss francs, with a stable base salary and a slight reduction in variable pay. Following the acquisition of Credit Suisse, the bank faces regulatory scrutiny, prompting discussions in Swiss parliament about capping banker salaries between 3 and 5 million francs. Total compensation for UBS's executive board reached 143.6 million Swiss francs, with a group-wide bonus pool of $4.7 billion.
UBS CEO Sergio Ermotti will receive a total remuneration of CHF 14.9 million for 2024, reflecting a slight increase from the previous year's CHF 14.4 million. Despite criticism over high salaries in the banking sector, Ermotti's pay remains below that of leaders in other industries, such as Partners Group and Novartis. UBS reported an adjusted pre-tax profit of USD 8.8 billion for 2024, bolstered by higher revenues and successful integration of Credit Suisse.
UBS Group AG CEO Sergio Ermotti's compensation for 2024 is set at 14.9 million Swiss francs (approximately $16.8 million), up from 14.4 million for nine months of work in 2023. The bank's Executive Board will collectively earn 143.6 million Swiss francs, a slight increase from 140.3 million in the previous year. The shareholder letter highlighted a year of transformation following the acquisition of Credit Suisse, emphasizing UBS's strengthened position and strategic benefits for clients and shareholders.
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ubs ceo sergio ermotti receives 14.9 million swiss francs in 2024
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