In 2024, UBS CEO Sergio Ermotti's pay package exceeded 15 million Swiss francs ($17 million), as reported by Swiss daily Blick. This amount was higher than the 14.4 million Swiss francs he received in 2023 for nine months' work upon returning to oversee Credit Suisse's integration following UBS's acquisition of the bank in March of that year.
Ermotti was the highest-paid CEO among major European banks in 2023. UBS acquired its former rival for 3 billion Swiss francs in a state-engineered deal after Credit Suisse faced a series of scandals.
UBS chose not to provide a comment. The bank is set to unveil its full-year 2024 report on Monday, which will disclose details on Ermotti's compensation.
($1 = 0.8851 Swiss francs)