Banks UBS CEO Ermotti earns just under CHF 15 million in 2024
Sergio Ermotti has been CEO of UBS since April 2023. In 2024 he earned 14.9 million francs. (archive picture)
Image: Keystone
UBS Chairman of the Board of Directors Colm Kelleher will receive CHF 5.5 million for the year until the next Annual General Meeting on April 10. (archive picture)
Image: Keystone
Sergio Ermotti has been CEO of UBS since April 2023. In 2024 he earned 14.9 million francs. (archive picture)
Image: Keystone
UBS Chairman of the Board of Directors Colm Kelleher will receive CHF 5.5 million for the year until the next Annual General Meeting on April 10. (archive picture)
Image: Keystone
UBS CEO Sergio Ermotti will receive roughly the same salary for the past financial year as in 2023, which is significantly less than had been speculated in some quarters. His remuneration amounted to CHF 14.9 million, compared to CHF 14.4 million previously.
17.03.2025, 06:48
17.03.2025, 07:14
SDA
However, Ermotti only worked for the big bank for nine months in 2023. He only took over as CEO on April 1, 2023 in order to manage the integration of the acquired Credit Suisse. Extrapolated to one year, this would have amounted to CHF 19.2 million in the previous year.
Of the 14.9 million for Ermotti in 2024, 2.8 million is the fixed salary and 12.1 million is the variable part of the salary, according to the annual report published on Monday. The bonus for 2023 had been around 12.3 million.
Kelleher receives more
A total of CHF 143.6 million will be paid out to the entire Executive Board of Switzerland's largest bank for 2024. This compares to 140.3 million in the previous year.
The majority of the variable remuneration of the Executive Board has been deferred over several years, UBS Chairman Colm Kelleher was quoted as saying in a statement issued by the bank on Monday. "This ensures that remuneration reflects performance and appropriate risk appetite and that the interests of employees are aligned with those of our stakeholders."
Kelleher himself, who has been Chairman of the Board of Directors of UBS since April 2022, will receive CHF 5.5 million for the year until the next Annual General Meeting on April 10. Previously it was 4.7 million.
The entire Board of Directors will earn 14.0 million francs in 2024/2025, including so-called additional fees, which is less than the 15.2 million in 2023/24.
