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UBS CEO Ermotti earned almost CHF15 million in 2024

Published on March 17, 2025

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UBS CEO Ermotti earned almost CHF15 million in 2024 — UBS CEO Ermotti earns almost CHF 15 million in 2024 Keystone-SDA

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The CEO of Swiss bank UBS, Sergio Ermotti, will receive roughly the same salary in 2024 as the previous year, despite working for longer than the previous year.

This content was published on March 17, 2025 - 11:01

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Ermotti’s remuneration totalled CHF14.9 million last year, compared to CHF14.4 million in 2023. This ends speculation that he could be awarded millions more.

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However, Ermotti only worked for the big bank for nine months in 2023, having taken the helm on 1 April 2023 to manage the integration of the acquired Credit Suisse. Extrapolated to one year, this would have been CHF19.2 million in the previous year.

Of the CHF14.9 million for Ermotti in 2024, CHF2.8 million is the fixed salary and CHF12.1 million is the variable salary component, according to the annual report published on Monday. The bonus for 2023 had been around CHF12.3 million.

Chair gets more

A total of CHF143.6 million will be paid out to the entire Executive Board of Switzerland’s largest bank for 2024. This compares to CHF140.3 million the previous year.

The majority of the variable remuneration for the Executive Board has been deferred for several years, UBS Chair 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.”

+ Why a monster UBS bank scares Switzerland

Kelleher himself, who has been Chair of the Board of Directors of UBS since April 2022, will receive CHF5.5 million for the year until the next Annual General Meeting on 10 April. Previously it was CHF4.7 million.

The entire Board of Directors will earn CHF14.0 million francs in 2024/2025, including so-called additional fees, which is less than the CHF15.2 million paid in 2023/24.

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Translated from German with DeepL/mga

This news story has been written and carefully fact-checked by an external editorial team. At SWI swissinfo.ch we select the most relevant news for an international audience and use automatic translation tools such as DeepL to translate it into English. Providing you with automatically translated news gives us the time to write more in-depth articles.

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