UBS CEO Sergio Ermotti was paid a total of 14.4 million Swiss francs for his nine months at the helm, making him the best-paid banker in Europe. This is according to UBS’s annual report which states that his compensation for the period totaled 14.4 million francs (equivalent to 14.7 million euros). In contrast, his predecessor Ralph Hamers earned 12.6 million francs for a full year of work in 2022.
Ermotti took on the role in April to oversee the merger of Credit Suisse, having previously served as its leader for nine years. He has since been working tirelessly to ensure that the merger goes smoothly and that both banks are able to continue operating effectively together. Despite this challenging task, Ermotti has proven himself to be an exceptional leader and has earned every penny of his compensation package.
For comparison, the highest-paid banker in the US, JPMorgan Chase CEO Jamie Dimon, earned $36 million in the same year. While this is an impressive sum, it falls short of Ermotti’s compensation package by quite a bit – with Ermotti being paid almost three times as much as Dimon over just nine months!