UBS chief's surprise return to the Swiss banking giant bagged him a $15.9 million paycheck
Publishing timestamp: 2024-03-28 03:32:33
Summary
UBS CEO Sergio Ermotti earned 14.4 million Swiss francs in 2023 after his return at the helm of the Swiss banking giant following the takeover of Credit Suisse. The bank's executive board received a total compensation package of 140.3 million Swiss francs, a significant increase from the previous year. UBS reported a reduction in bonuses paid to employees at the new combined bank as part of cost-cutting measures during the integration of Credit Suisse. Despite reporting a second consecutive quarterly loss, UBS shares have gained more than 52% since Ermotti took over in April 2023.
Sentiment: NEUTRAL
Tickers: UBSG-CH,
Keywords: business news, ubs group ag,