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Star banker welcomed to UBS with 8.2 million francs

News Team, 28/02/2020

UBS’s outgoing chief executive Sergio Ermotti saw his pay decline in his final full year as CEO, as the bank cited negative interest rates and geopolitical concerns as reasons for a declining bonus pool.

Mr Ermotti received a total pay packet of CHF 12.5 million in 2019 (£10 million) down 11.4 percent on 2018’s CHF 14.1 million.

He received fixed compensation of CHF 2.8 million, in line with 2018, with a bonus of CHF 9.7 million, down 14.5 percent year-on-year. Mr Ermotti, it was announced this month, will be succeeded by ING chief executive Ralph Hamers...


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