By Adria Calatayud

 

UBS Group said Chief Executive Sergio Ermotti's total compensation amounted to 14.4 million Swiss francs ($15.9 million) last year, a 14% increase compared with what his predecessor Ralph Hamers got in 2022.

The Swiss banking group's aggregate compensation for all its executive-board members totaled CHF140.3 million in 2023, up from CHF106.9 million a year before, according to its annual report published Thursday.

Ermotti returned to UBS in April last year to oversee the integration of Credit Suisse, after a first stint as CEO from 2011 to 2020.

"Sergio [Ermotti] has committed to stay at least until the completion of the integration process, if not longer," the bank said.

 

Write to Adria Calatayud at adria.calatayud@wsj.com

 

(END) Dow Jones Newswires

03-28-24 0336ET