UBS CEO Sergio Ermotti's 2024 Compensation Soars to 14.9 Million Swiss Francs

In a revealing annual report, UBS Group AG disclosed that CEO Sergio Ermotti's compensation for 2024 reached a staggering 14.9 million Swiss francs (approximately $16.8 million). This marks an increase from the 14.4 million Swiss francs he received in 2023, despite only working nine months that year.

The total compensation for the bank's Executive Board in 2024 also saw a rise, totaling 143.6 million Swiss francs, up from 140.3 million Swiss francs in the previous year.

"The year 2024 marked another 12 months of change for UBS and the world we live in," stated the shareholder letter. It highlighted the bank's transition from stabilizing a precarious situation post the acquisition of Credit Suisse to making significant strides toward integration. The letter emphasized that UBS is now stronger, more diversified, and better positioned strategically to benefit both clients and shareholders in a rapidly changing world.