Sergio Ermotti came to the rescue when UBS snapped up Credit Suisse. One year later, he's now Europe's best-paid bank CEO [Yahoo! Finance]
HSBC Holdings, plc. (HSBC)
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Source: Yahoo! Finance
Just as the $3 billion deal to buy Credit Suisse was being finalized, UBS had another surprise up its sleeve—the return of its former CEO Sergio Ermotti. He had turned UBS around in the past , so he was the natural choice to lead the tricky takeover of its distressed banking rival. In the past year, Ermotti made 14.4 million Swiss francs ($15.9 million), making him the best paid European bank boss as he navigated UBS through the Credit Suisse acquisition. His predecessor, Ralph Hamers, made about $14 million in 2022 when he served as CEO, according to UBS's annual report released Thursday. Ermotti's healthy pay package is set against a sharper increase in overall executive board pay, up 30% from a year earlier to 140.3 million Swiss francs ($154.6 million). But importantly, it's contrasted with a 14% decline in bonuses for employees. CEO pay and the growing gap between how employees are paid is a contentious subject, especially within banking . In Ermotti's case, he's steerin
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