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In 2024, Sergio Ermotti, CEO of UBS, topped the list of the best-paid bank CEOs in Europe, earning a total of 15.6 million euros. The list, compiled by Bloomberg, also features Christian Sewing, CEO of Deutsche Bank.
In 2024, Europe's top bankers are earning record salaries, led by Sergio Ermotti of UBS at 15.4 million euros, followed by Andrea Orcel of Unicredit at 13.2 million euros. Other notable figures include Christian Sewing of Deutsche Bank at 9.8 million euros and Hector Grisi of Santander at 8.3 million euros. These high earnings are driven by substantial bank profits, despite rising interest rates, while discussions in Switzerland about limiting executive pay could impact future compensation dynamics.
In 2024, Sergio Ermotti, CEO of UBS, topped the list of Europe's highest-paid bankers with a salary of 15.6 million euros, followed by Andrea Orcel of Unicredit at 13.2 million euros, marking a 32% increase. The average salary for CEOs of the top 10 European banks was 7 million euros, driven by exceptional profits from rising interest rates. Despite the substantial compensation, criticism arose regarding the high pay of bank executives, prompting Unicredit to defend Orcel's salary increase as essential for long-term commitment in a competitive market.
Deutsche Bank has proposed a dividend of €0.68 per share for fiscal year 2024, pending shareholder approval at the AGM on May 22, 2025. The record dates for dividend eligibility are May 26 for Germany and May 23 for the U.S., with payments expected on May 27. The bank also plans to cut its branch network and reduce 2,000 jobs in retail banking by 2025 as part of a cost-cutting initiative.
Sergio Ermotti, Chairman of UBS, topped the list of highest-paid bankers in Europe for 2024, earning 14.9 million francs. Following him is Unicredit's Andrea Orcel with 13.2 million euros, and Deutsche Bank's Christian Sewing at 9.8 million. Many banks benefited from rising interest rates, leading to increased profits and remuneration.
In 2024, UBS CEO Sergio Ermotti topped the list of Europe's highest-paid bankers with earnings of €15.6 million, followed by UniCredit's Andrea Orcel at €13.2 million, marking a 32% increase. Deutsche Bank's Christian Sewing rounded out the top three with €9.8 million. The surge in salaries is attributed to significant bank profits and rising stock prices.
Sergio Ermotti, CEO of UBS, topped the list of highest-paid CEOs among European banks in 2024, earning 14.9 million Swiss francs. UniCredit's Andrea Orcel received the largest raise, bringing his total to 13.2 million euros, while Deutsche Bank's Christian Sewing followed with 9.8 million euros. Other notable figures include Santander's Hector Grisi at 8.3 million euros and BBVA's Onur Genc at 7.3 million euros, with the lowest compensation reported at 2.6 million euros for Credit Agricole's Philippe Brassac.
Sergio Ermotti, CEO of UBS, topped the list of highest-paid CEOs among Europe's largest banks in 2024, earning 14.9 million Swiss francs. UniCredit's Andrea Orcel followed with a significant raise to 13.2 million euros, while Deutsche Bank's Christian Sewing earned 9.8 million euros. Many banks benefited from rising interest rates, leading to increased profits and higher compensation for executives.
Deutsche Bank has proposed Kirsty Roth, chief operations and technology officer at Thomson Reuters, and Klaus Moosmayer, chief ethics, risk & compliance officer at Novartis, to join its supervisory board at the annual shareholder meeting on May 22. They will replace Theodor Weimer and Dagmar Valcarcel, whose terms are expiring. Additionally, CEO Christian Sewing's contract has been extended amid a management revamp that will see the departure of the finance chief and another top executive.
Deutsche Bank has proposed Kirsty Roth and Klaus Moosmayer for its supervisory board, with a vote scheduled for the annual shareholder meeting on May 22. They will replace Theodor Weimer and Dagmar Valcarcel, whose terms are expiring. Additionally, CEO Christian Sewing's contract has been extended amid a management overhaul, which will see the departure of the finance chief and another executive.
Christian Sewing
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
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