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UBS has expressed concerns over an "ill-informed" public debate in Switzerland regarding the risks associated with its business and size, which is creating uncertainty ahead of 2025. The bank, facing new regulations after acquiring Credit Suisse, is already meeting high capital requirements but awaits further details from the Swiss government on future capital needs. UBS supports measures for executive accountability and a public liquidity backstop for systemically important banks.
UBS has expressed concerns over the "ill-informed" public debate in Switzerland regarding its business risks and size, which is creating uncertainty as the country prepares to regulate its largest bank. Following its acquisition of Credit Suisse, UBS is facing stricter capital requirements, despite already meeting high standards for global systemically important banks. The bank supports measures for executive accountability and a permanent liquidity backstop for systemically important institutions, while awaiting further details on capital requirements from the Swiss government.
UBS has expressed concerns over the "ill-informed" public debate in Switzerland regarding the risks associated with its size and business activities, which is creating uncertainty as the country prepares to regulate its largest bank. Following its acquisition of Credit Suisse, UBS is facing stricter capital requirements, although it asserts that it already meets high standards for global systemically important banks. The bank is awaiting further details on these requirements from the Swiss government, expected in May, and supports measures for executive accountability and a public liquidity backstop for systemically important banks.
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'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 received a pay package of 14.9 million Swiss francs ($16.85 million) in 2024. The total compensation for the executive board amounted to 143.6 million Swiss francs ($162.43 million), while the group-wide bonus pool increased to $4.7 billion from $4.5 billion in 2023.
UBS CEO Sergio Ermotti will receive a remuneration of CHF 14.9 million ($16.85 million) in 2024. The total fixed and variable compensation for the Group Executive Board is set at CHF 143.6 million ($162.43 million), with a group-wide bonus pool of $4.7 billion, an increase from $4.5 billion in 2023.
The Swiss Social Democrats have proposed that UBS increase its capital by $40 billion to enhance financial stability following the 2023 Credit Suisse collapse. Their action plan includes measures for stricter regulations, a state guarantee, and the establishment of a profit reserve at the Swiss National Bank. However, the proposal faces significant opposition in Parliament, raising concerns about UBS's systemic risk to Switzerland.
A delay in new capital rules for UBS has created uncertainty about the bank's future while alleviating immediate regulatory burdens. Swiss authorities aim to ensure UBS's foreign subsidiaries are well-capitalized, but the decision process may extend to 2028, contrasting with loosening regulations elsewhere. UBS shares fell over 1.5%, reflecting concerns as the bank navigates a complex regulatory landscape amid its significant acquisition of Credit Suisse.
Switzerland's finance ministry has decided that the capital requirements for UBS will be determined by parliament, rather than through ordinances. This shift reflects the importance of capital backing for foreign holdings of systemically important banks, emphasizing financial stability and economic considerations. Meanwhile, other capital requirements for such banks will still be set by the Federal Council, with a public consultation proposal expected by the end of May.
Ariane Luthi
People
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
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