logo
Plus   Neg
Share
Email

UBS: Group CEO Total Compensation Down In 2018

Swiss banking giant UBS Group AG (UBS) on Friday published its Compensation Report along with its annual report 2018.

The company noted that Group CEO performance award, for Sergio Ermotti, was 11.3 million Swiss francs in 2018, of which 2 million francs in cash, bringing his total compensation to 13.8 million francs, excluding benefits and contributions to retirement benefit plans, a decrease of 1% compared with 2017.

Total fixed and variable compensation for the CEO was 14.12 million francs, slightly lower than 14.20 million francs a year ago.

UBS said the performance award for the Group CEO is based on the achievement of financial targets plus goal achievements.

Group Executive Board or GEB performance award pool, including the Group CEO, was 73.3 million francs, a decrease of 1%. As a percentage of the adjusted Group profit before tax, the GEB performance award pool was 1.2%, well below the cap of 2.5%.

The Committee has maintained the base salaries for the GEB including the Group CEO at current levels. These salary levels have not been changed since 2011.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
The National Retail Federation Chief Economist Jack Kleinhenz said it was too early to say how quickly or smoothly the U.S. economy would stage a recovery following the "sizable disruptions" due to the coronavirus pandemic. However, he noted that the reopening of businesses and the resumption of economic activity is a significant step forward. Following the recall of type 2 diabetes medication Metformin Hydrochloride Extended-Release (ER) by Apotex last week, the U.S. Food and Drug Administration or FDA has recommended more pharmaceutical companies, who are manufacturers of the drug formulation, to recall their products. Hundreds of Facebook employees staged a "virtual walkout" on Monday to protest the company's decision not to act on recent controversial posts by President Donald Trump on the social media platform. The employees criticized Facebook chief executive Mark Zuckerberg's decision to not moderate a post from Trump last Thursday.
Follow RTT