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Sergio Ermotti, CEO of UBS, faces criticism for his 14.4 million franc salary amid ongoing integration of Credit Suisse. He defends his compensation by highlighting his understanding of money's value and asserts that UBS is financially stable enough to prevent taxpayer losses in a crisis. Ermotti emphasizes the bank's competitive landscape and its significant contributions to Switzerland, while advocating for targeted regulation to maintain the financial center's strength.
In 2023, CEO salaries in Switzerland rose by an average of 5%, with UBS CEO Sergio Ermotti leading at CHF 14.5 million for just nine months in office. Following him were Novartis CEO Vas Narasimhan at CHF 13.3 million and former Nestlé CEO Mark Schneider at CHF 11.2 million. Despite public discontent over high executive pay, total remuneration for SMI CEOs has increased by a quarter over the past three years.
17:46 26.10.2024
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