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UBS CEO Sergio Ermotti earned 14.9 million francs in 2024, maintaining a similar salary to the previous year despite only nine months in the role. His compensation, which includes a fixed salary of 2.8 million and a variable portion of 12.1 million, has sparked outrage among some Swiss parliamentarians, who question the justification for such high earnings, especially given UBS's state support. The Council of States is considering a cap on banking sector salaries, while UBS defends its pay structure as aligned with performance and risk management.
UBS CEO Sergio Ermotti's salary of CHF 14.9 million in 2024 has sparked outrage among trade unionists, with Swiss Federation of Trade Unions president Pierre-Yves Maillard calling it "shocking" and urging for salary regulations in the financial sector. Maillard argues that such excessive earnings undermine public trust and calls for increased taxation and transparency in bonus payments. In contrast, UBS Chairman Colm Kelleher defended Ermotti's compensation, labeling his role as the most challenging in global banking.
UBS CEO Sergio Ermotti earned 14.9 million francs for 2024, maintaining a similar salary to the previous year despite market speculation of a higher figure. The bank faces ongoing legal challenges, including a significant tax case in France and lawsuits from former Credit Suisse shareholders, with provisions for legal disputes totaling $3.6 billion at the end of 2024. As UBS integrates Credit Suisse, Ermotti's leadership is under scrutiny amid calls for stricter banking regulations in Switzerland.
UBS has faced criticism over CEO Sergio Ermotti's 2024 salary of CHF 14.9 million, despite a slight decrease in his bonus. Political figures and the proxy advisor Ethos have expressed concerns about high executive pay, with proposals to cap banking sector salaries gaining traction. Meanwhile, UBS is also navigating increased capital requirements to mitigate risks following the Credit Suisse integration.
UBS Group AG awarded CEO Sergio Ermotti nearly 15 million Swiss francs ($17 million) for 2024, maintaining compensation below the maximum amid scrutiny over bankers' pay. His package includes 2.8 million francs fixed and 12.1 million francs variable compensation, while Chairman Colm Kelleher's pay rose 17% to 5.5 million francs. The total bonus pool for 2024 is $4.7 billion, as UBS faces political pressure regarding future capital requirements, with proposed legislation aiming to limit bankers' compensation.
Sergio Ermotti, CEO of UBS, earned nearly CHF 15 million in 2024, with a stable monthly salary of CHF 208,333 and a reduced annual variable component of CHF 12.10 million. The total remuneration for UBS's management team rose to CHF 143.6 million, while the supervisory board's compensation decreased to CHF 14 million. The integration of Credit Suisse is ongoing, with significant savings expected by 2027.
Sergio Ermotti, CEO of UBS, earned CHF 14.9 million in 2024, slightly down from CHF 14.4 million in 2023, reflecting a daily income of around CHF 57,000. His compensation includes a fixed salary of CHF 2.8 million and variable pay of CHF 12.1 million. The Executive Committee's total remuneration nears CHF 143.6 million, amid ongoing debates in Parliament regarding a proposed salary cap for bankers.
UBS CEO Sergio Ermotti earned nearly CHF 15 million in 2024, with a stable monthly base salary of CHF 208,333 and a slight decrease in the annual variable component to CHF 12.10 million. In comparison, his predecessor Ralph Hamers earned CHF 12.6 million in 2022. The total remuneration for UBS's management team rose to CHF 143.6 million, while Chairman Colm Kelleher's pay increased to CHF 5.5 million.
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.
Colm Kelleher
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