{
}
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 CEO Sergio Ermotti earned 14.9 million sfr in 2023, making him the second-highest-paid CEO in Switzerland, behind Novartis CEO Vasant Narasimhan, who earned 19.2 million sfr. Ermotti's monthly salary decreased to just over 1.2 million sfr in 2024, down from 1.6 million sfr the previous year, with no clear explanation for the 25% pay cut.
UBS chief Sergio Ermotti was paid €15.4 million last year, maintaining his position as Europe's highest-paid bank executive amid increasing scrutiny of financial sector remuneration in Switzerland. His compensation exceeds that of peers at HSBC, Deutsche Bank, and Banco Santander, but remains lower than US counterparts like Jamie Dimon and Ted Pick. As UBS faces potential capital requirement increases following the Credit Suisse takeover, Ermotti and chair Colm Kelleher criticized the public debate on executive pay, warning that excessive regulations could harm Switzerland's economic competitiveness.
Sergio Ermotti, UBS's CEO, earned 14.9 million francs last year, making him Europe's highest-paid banking manager, sparking renewed political debate over executive salaries. A recent motion proposes capping bank managers' salaries at 5 million francs, which could hinder talent acquisition in the financial sector. Critics argue that excessive variable pay encourages risky behavior, echoing concerns from past banking crises.
UBS CEO Sergio Ermotti will receive a total remuneration of CHF 14.9 million in 2024, reflecting a stable salary despite a slight reduction in his bonus. His leadership during the integration of Credit Suisse has been acknowledged, although high bonuses continue to provoke public backlash in Switzerland, prompting discussions in parliament about capping bank salaries. In comparison, Ermotti's earnings are surpassed by leaders in other sectors, such as Partners Group and Novartis.
UBS CEO Sergio Ermotti will receive a total remuneration of CHF 14.9 million for 2024, reflecting a slight increase from the previous year's CHF 14.4 million. Despite criticism over high salaries in the banking sector, Ermotti's pay remains below that of leaders in other industries, such as Partners Group and Novartis. UBS reported an adjusted pre-tax profit of USD 8.8 billion for 2024, bolstered by higher revenues and successful integration of Credit Suisse.
UBS CEO Sergio Ermotti will earn CHF 14.9 million in 2024, with a fixed salary of CHF 2.8 million and a variable component of CHF 12.1 million. The bank's provisions for legal cases stand at $3.6 billion, including ongoing litigation in France related to unlawful client solicitation.
Vasant Narasimhan
People
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
ubs faces backlash over ceo salary amid ongoing public scrutiny
Euro
Swiss Franc
United States Dollar
Novartis AG
Axon Partners Group, S.A.
Credit Suisse Strategic Income I
CHE
David Layton
Colm Kelleher
Sergio Ermotti
Karin Keller-Sutter
Jürg Grossen
Vasant Narasimhan
Roman Studer
Show more
16:55 17.03.2025
ubs ceo salary drops amid political scrutiny and industry comparisons
14:42 17.03.2025
ubs ceo sergio ermotti earns 15.4 million euros amid pay scrutiny
United States Dollar
British Pound Sterling
Euro
Swiss Franc
Novartis AG
UniCredit S.p.A.
Credit Suisse Strategic Income I
Morgan Stanley
Banco Santander, S.A.
JPMorgan Chase & Co.
Deutsche Bank RV Global PP
GBR
USA
CHE
DEU
ESP
ITA
Jamie Dimon
Ana Patricia Botin
Georges Elhedery
Andrea Orcel
Ted Pick
Vasant Narasimhan
Sergio Ermotti
Christian Sewing
Show more
13:03 17.03.2025
debate over high salaries for bank managers intensifies in switzerland
Euro
Swiss Franc
United States Dollar
Novartis AG
Credit Suisse Strategic Income I
UWS JP Morgan EM A OSB
Nestlé S.A.
The Goldman Sachs Group, Inc.
Deutsche Bank RV Global PP
DEU
USA
CHE
Sergio Ermotti
Ulf Schneider
Vasant Narasimhan
Daniel Vasella
Jakob Stark
Vincent Kaufmann
Jonas Neff
Show more
12:40 17.03.2025
ubs ceo ermotti earns 14.9 million francs amid salary stagnation
Euro
Swiss Franc
United States Dollar
Axon Partners Group, S.A.
UBS Group AG
Novartis AG
Credit Suisse Strategic Income I
CHE
Sergio Ermotti
Colm Kelleher
Vasant Narasimhan
Show more
09:41 17.03.2025
ubs ceo ermotti to receive nearly 15 million francs in 2024
Swiss Franc
Novartis AG
Axon Partners Group, S.A.
Credit Suisse Strategic Income I
CHE
Sergio Ermotti
Colm Kelleher
Vasant Narasimhan
Show more
07:56 17.03.2025
ubs ceo ermotti's 2024 salary remains high amid legal challenges and integration efforts
United States Dollar
Euro
Swiss Franc
Novartis AG
Axon Partners Group, S.A.
Credit Suisse Strategic Income I
FRA
CHE
Sergio Ermotti
Colm Kelleher
Vasant Narasimhan
Show more
07:07 17.03.2025
Trending
Subcategory
Corporate News
Stock Market Updates
Industry Trends
Banking Regulations
CEO Changes
Global Financial Events
Finance Mergers & Acquisitions
Industry Mergers & Acquisitions
Central Bank Actions
Workplace Trends
Market Analysis and Predictions
Retail and Consumer Goods
Government Economic Policies
Financial Scams and Security
Global Trade Developments
Startups & Entrepreneurship
Commodities
Corporate Social Responsibility
Energy Sector Developments
Banking & Investment Regulations
Countries:
Companies:
Credit Suisse Strategic Income I
UBS Group AG
JPMorgan Chase & Co.
The Goldman Sachs Group, Inc.
Wells Fargo & Company
Bank of America Corporation
Morgan Stanley
Citigroup Inc.
Barclays PLC
Deutsche Bank RV Global PP
Apple Inc.
Tesla, Inc.
Novartis AG
Volkswagen AG
Microsoft Corporation
BNP Paribas SA
Berkshire Hathaway Inc.
NVIDIA Corporation
Banco Santander, S.A.
Huawei Technologies CO. Ltd.
Currencies:
United States Dollar
Swiss Franc
Euro
British Pound Sterling
Indian Rupee
Chinese Yuan
Japanese Yen
Australian Dollar
United Arab Emirates Dirham
South Korean Won
Vietnamese Đồng
Offshore Chinese Yuan
Saudi Riyal
Hong Kong Dollar
Danish Krone
Canadian Dollar
Mexican Peso
Polish Złoty
Kuwaiti Dinar
Filipino Peso
People: