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Salaries for CEOs of major Swiss companies are on the rise, with UBS CEO Sergio Ermotti earning 14.9 million francs and Novartis CEO Vasant Narasimhan at 19.1 million francs. This trend has sparked political debate, including a proposed salary cap for bankers, which faces opposition from the Bankers Association. Shareholders, particularly large asset managers, prioritize company performance over concerns about executive pay.
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 is facing mounting criticism over its executive pay structure, particularly as CEO Sergio Ermotti's potential salary could reach CHF 20 million, making him Switzerland's highest-paid manager. This situation raises concerns about public confidence and political intervention, especially following the recent turmoil in the banking sector. Despite the backlash, UBS maintains that its capital strength is central to its strategy, even as the debate over necessary equity levels continues.
Vincent Kaufmann
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rising executive salaries spark debate in swiss corporate governance
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15:54 17.03.2025
debate over high salaries for bank managers intensifies in switzerland
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12:40 17.03.2025
ubs executive salaries spark political backlash amid rising public concern
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06:29 15.03.2025
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