Sergio p. Ermotti has financially been a good year. The head of the UBS has received in the past year to 14.1 million Swiss francs for his services at the big Bank. This dropped his total compensation in comparison to the previous year, to 80’000 Swiss francs.
Ermotti took over in September 2011, the UBS, Oswald Grübel. 2012 – in his first full year he was awarded an 8.9 million Swiss francs. Now there are about 60 percent more.
Ermotti received a more variable compensation. His fixed remuneration in 2012 of between 2.7 and 2.8 million Swiss francs. The bonuses, however, the packages increased, among other things, shares of 6.1 million Swiss francs to CHF 11.3 million for the year 2018. Last year, the value amounted to 11.4 million Swiss francs.
compared to the salary excesses of the mid-2000s, the wage of Ermotti, however, is modest. The former UBS chief Marcel Ospel received, for example, in 2005, almost 24 million Swiss francs.
receives not only Ermotti even a lot more wages than in 2012. The entire Executive Committee received for the year 2018 more than 100 million Swiss francs. Thus, the value rose for the first time on the threshold of CHF 100 million since the economic crisis. Of these, 73 million variable remuneration.
So the line in the group since the beginning of the Era Ermotti, a strong increase in see. In 2012, the eleven members of the Executive Committee received 72 million Swiss francs. In 2018, there were almost 30 million Swiss francs, or 40 percent more.
with this development, the business success was able to keep up, however. The share price, for example, increased in 2015. Since then, the stock dropped again significantly. And at the end of 2018 – compared with the Beginning of 2012 – only about 11 percent higher. The share price is in the end also depends on how high the paid bonuses in shares of the group’s management really are.
The Bank had under Ermotti, respectively, under the line, a billion in profit. The profit of over 6 billion from the year 2015, the UBS has not come, but in the past few years.
Manager wages rise generally
increased The discussions about high chief wages have in the last time. Gone are the days in which a certain degree of restraint was practiced seem. Especially in the environment of the rip-off Initiative, which was adopted in 2013, the topic of hot discussion. However, despite the discussion, the managers wages have increased since then.
A study of travail Suisse showed last year, that the fees paid to the Manager increased since the year of 2011, by 16 percent. The employees in the surveyed 36 companies earned 3.8 percent more.
Bank makes more provisions
The legal case in France, suppressed meanwhile, on the earnings of the Bank. In January, the UBS reported a profit of $ 4.9 billion. Now it is 4.5. The Bank has responded to a record buses, imposed by a Paris court, and as stated in the annual report is placed 450 million euros set aside.
The court ended up the UBS in February, a fine of 3.7 billion euros. This is because, the court said the Bank due to tax offences guilty. UBS has appealed the judgment. (Editorial Tamedia)
Created: 15.03.2019, 07:04 PM
