The Wealthy World of UBS CEO Sergio Ermotti

The Wealthy World of UBS CEO Sergio Ermotti

UBS CEO Sergio Ermotti made a whopping 14.4 million Swiss francs in 2023, a staggering amount that equals $15.9 million in the US. This massive sum comes after his unexpected return to lead the Swiss banking giant once again. Ermotti stepped back into the role following the absorption of troubled competitor Credit Suisse. The announcement of his reappointment made waves in the financial world, as he took over from Ralph Hamers on April 5 last year.

Ralph Hamers, who was at the helm of UBS in 2022, raked in 12.6 million Swiss francs during his final year as CEO. These figures include both base salary and variable compensation. The total amount paid to the executive board of UBS in 2023 was a staggering 140.3 million Swiss francs, a significant jump from the previous year’s 106.9 million. It’s clear that executives at UBS are handsomely rewarded for their roles in steering the financial giant.

Bonuses and Cost Cutting

Bonuses distributed to employees at the combined UBS and Credit Suisse entity amounted to a massive $4.5 billion. However, this figure represents a 14% decrease from the previous year’s total of $5.3 billion. The bulk of these bonuses were paid out in cash, reflecting UBS’ efforts to trim expenses as part of the integration process. Despite facing integration costs that led to a second consecutive quarterly loss, UBS managed to maintain strong operating profits.

Since Ermotti took over as CEO on April 5, 2023, UBS shares have surged by over 52%. This impressive growth in market value shows that investors have confidence in Ermotti’s leadership and the direction in which he is taking the banking giant. The positive market performance is a testament to Ermotti’s strategic vision and ability to navigate the complex landscape of the banking industry.

The compensation packages, bonuses, and market performance under the leadership of UBS CEO Sergio Ermotti paint a picture of a powerful and influential figure in the financial world. Ermotti’s return to UBS has been met with enthusiasm and has clearly had a positive impact on the company’s financial standing. With his leadership, UBS seems poised for continued success and growth in the years to come.

Global Finance

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