UBS CEO receives 21% rise in pay

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UBS raised total compensation for CEO Sergio Ermotti by 21% to $12.3m after the bank returned to profit last year.

Bloomberg reports that Ermotti’s pay included variable compensation and benefits of $9.4m on top of a base salary of $2.86m, the company said in its annual compensation report Friday. He was paid a total of $10.13m for 2012, including the same salary.

Investment banking head Andrea Orcel’s pay surpassed Ermotti’s, making him the highest-paid executive at UBS with $13.06m in total remuneration.

To access the complete Bloomberg article hit the link below:

UBS Raises Ermotti's 2013 Pay 21% After Return to Profit

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