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UBS CEO Sergio Ermotti’s 2023 Compensation Revealed

  • By The Swiss Times
  • 28 March 2024

Sergio Ermotti’s return as UBS CEO comes with a CHF 14.4 million package.

UBS CEO Sergio Ermotti’s 2023 Compensation Revealed
Keystone/LAURENT GILLIERON

Sergio Ermotti, stepping into his role as UBS CEO on April 1, 2023, has a compensation package of CHF 14.4 million for the year.

This package represents a substantial increment from his predecessor Ralph Hamers’ 2022 earnings of CHF 12.6 million.

Ermotti’s compensation is structured with a fixed salary of CHF 2.1 million complemented by a variable “performance award” of CHF 12.3 million, as detailed in the bank’s annual report.

The Executive Board of Switzerland’s premier banking institution saw a total compensation of CHF 140.3 million in 2023, a significant rise from the CHF 106.9 million allocated in the previous year.

Colm Kelleher, presiding as Chairman of the UBS Board of Directors since April 2022, is set to receive CHF 4.7 million for his tenure extending to the upcoming Annual General Meeting on April 24. This figure is slightly less than the CHF 4.8 million earned in his inaugural year. The cumulative compensation for the entire Board of Directors in 2023 amounts to CHF 15.2 million, marking a substantial increase from the CHF 12.6 million in 2022.

©Keystone/SDA

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