UBS Chief Executive’s Pay Rose 28 Percent in 2015

ezgif.com-resize (6)UBS Chief Executive’s Pay Rose 28 Percent in 2015 – The New York Times

Sergio P. Ermotti, the UBS chief executive, saw his compensation increase 28 percent in 2015, as the Swiss bank more than doubled its annual profit despite uncertainty in the markets that weighed on its results in the fourth quarter.

As part of its annual report on Friday, UBS, which is based in Zurich, said that Mr. Ermotti received total compensation of 14.3 million Swiss francs, or about $14.7 million, for 2015. That compared with 11.2 million francs in the prior year.

His compensation included a base salary of 2.5 million francs and 11.5 million francs in so-called variable compensation, which includes shares in UBS that will be granted to Mr. Ermotti in May, subject to shareholder approval. Those shares would not vest until 2021.

Source: NYTimes

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