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UBS Group 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 for nine months of service. While his bonus has been marginally reduced, his basic salary was maintained for the full year. The overall bonus pool for the banking group rose to $4.7 billion, up from $4.5 billion the prior year.
UBS CEO Sergio Ermotti earned CHF 14.9 million for 2024, a slight increase from CHF 14.4 million in 2023, despite only serving nine months that year. His compensation includes CHF 2.8 million in fixed salary and CHF 12.1 million in variable pay. Meanwhile, a motion in the Council of States seeks to cap bank executives' salaries at CHF 3 to 5 million annually, potentially impacting Ermotti's future earnings.
UBS CEO Ermotti earned nearly 15 million francs in 2024, with a fixed salary of 2.8 million and a variable component of 12.1 million. The total compensation for the Executive Board reached 143.6 million francs, reflecting a slight increase from the previous year. Chairman Kelleher's pay rose to 5.5 million francs, while the Board of Directors will earn 14 million francs for 2024/2025.
UBS reported a net profit of $5.08 billion for 2024, with diluted earnings per share of $1.52 and a CET1 capital ratio of 14.3%, highlighting the successful integration of Credit Suisse. Chairman Colm Kelleher emphasized the bank's strengthened position as a global wealth manager and its commitment to sustainable finance, aiming for net-zero greenhouse gas emissions by 2035.
The collapse of Credit Suisse highlighted significant failures in management and risk assessment, emphasizing the need for better bank supervision. While concerns about UBS's size persist, the financial sector remains crucial to Switzerland's economy, benefiting from foreign assets and lower interest rates. The rise of AI in banking is expected to enhance risk monitoring but may also lead to job losses, as younger generations increasingly prefer AI-driven financial advice.
UBS is pressuring Swiss regulators against stricter capital requirements, fearing that excessive regulations could lead to its relocation, which would harm Switzerland's economy. The Bank of England warns that pursuing growth alongside stability may compromise financial security, as international competition intensifies among financial centers.
Credit Suisse Strategic Income I
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
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