UBS: Group CEO Total Compensation Down In 2018

(RTTNews) - 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.