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UBS CEO Sergio Ermotti earned nearly 15 million Swiss francs for 2024, comprising CHF2.8 million in fixed pay and CHF12.1 million in variable pay, amid scrutiny over bankers' compensation in Switzerland. This package is slightly higher than the 14.4 million francs he received for nine months in 2023. The bank's board of directors will earn 14 million francs for the 2024-2025 period, reflecting a broader focus on aligning compensation with performance and risk appetite.
Sergio Ermotti remains Europe's highest-paid banker with a salary of CHF 15 million, drawing criticism amid UBS's handling of the Credit Suisse integration. UBS Chairman Colm Kelleher acknowledged the public backlash over Ermotti's remuneration, which has sparked discussions in parliament about capping banking salaries at three to five million francs. Kelleher warned that such limits could hinder the bank's ability to attract top talent.
UBS's auditor has issued an "adverse opinion" regarding the effectiveness of the bank's internal controls over financial reporting for 2024. The annual report reveals a material weakness stemming from unresolved issues related to material misstatements inherited from Credit Suisse as of December 2024.
UBS's auditor has issued an "adverse opinion" regarding the effectiveness of the bank's internal controls over financial reporting for 2024. The annual report reveals a material weakness due to unresolved issues related to material misstatements inherited from Credit Suisse as of December 2024.
UBS's auditor has issued an "adverse opinion" regarding the effectiveness of the bank's internal controls over financial reporting for 2024. The annual report reveals a material weakness stemming from unresolved issues related to misstatements inherited from Credit Suisse as of December 2024.
UBS Group reported a pre-tax profit of USD 8.8 billion for 2024, more than double the previous year, and plans a 29% dividend increase to USD 0.90 per share alongside share buybacks of up to USD 3 billion in 2025. The integration of Credit Suisse is ahead of schedule, with 58% of planned savings achieved, and the bank aims for a long-term adjusted return on equity target of 15%. Analysts have mixed views on UBS shares, with some rating them as "buy" while others maintain a "hold" stance.
UBS CEO Sergio Ermotti received CHF 14.9 million in remuneration for 2024, maintaining the previous year's level, with a fixed salary of CHF 2.8 million and a variable component of CHF 12.1 million. His leadership is focused on the integration of Credit Suisse, a role he resumed on April 1, 2023, after a nine-month tenure. Recent analyses indicate a pressing need for action among UBS shareholders regarding their investment decisions.
UBS has raised its gold price forecast to $3,200 per ounce within a year, driven by expected global trade conflicts that may boost safe-haven asset investments. The bank's shares have reacted positively, and it plans a cash dividend of $0.90 per share for fiscal year 2024, following a net profit of $5.085 billion. CEO Sergio Ermotti's compensation for 2024 will be approximately 15 million Swiss francs, reflecting the bank's confidence amid economic challenges.
UBS has significantly raised its gold price forecast to $3,200 per ounce within the next year, driven by escalating global trade conflicts and new trade barriers. This outlook is expected to enhance the bank's earnings through increased trading and asset inflows in precious metals.Additionally, UBS has set its CEO's remuneration for 2024 at CHF 14.9 million, reflecting confidence in future growth despite economic challenges, while the total bonus pool has increased to USD 4.7 billion. Investors are closely monitoring these developments for insights into the bank's business trajectory.
UBS has expressed concerns over the "ill-informed" public debate in Switzerland regarding its size and activities, which is creating uncertainty as the country considers new banking regulations. Following its acquisition of Credit Suisse, UBS is facing stricter capital requirements, despite already meeting high standards for globally systemically important banks. The bank supports measures for individual executive accountability and a permanent safety net for systemically important institutions, while awaiting further details on capital requirements from the Swiss government.
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
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