The total compensation of UBS Group AG officials was 115.9 million Swiss francs ($ 124.8 million) for last year, up from the CHF102.1 million they collected for the previous year.
Despite the challenges posed by the pandemic, the Swiss bank has met all key financial targets for last year.
Overall, a higher bonus pool offset slightly lower fixed compensation for members of the group’s governing body, according to a Swiss bank compensation report on Friday. Variable compensation rose to CHF85 million from CHF70.3 million.
Former CEO Sergio Ermotti earned a total of CHF13.3 million until he left the board at the end of the year. CEO Ralph Hamers, who became CEO in November but joined the bank in September, earned CHF4.2 million.
Write to Pietro Lombardi at [email protected]; @ pietrolombard10