UBS saw rise in 2015 bonus pool

Sergio Ermotti Interview Pic

UBS, which cut its securities unit to focus on wealth management, raised its bonus pool by 14% in 2015, leaving it the only major European bank to award bankers higher compensation.

Bloomberg News reports that the bonus pool swelled to $3.6bn from $3.16bn, the bank said in its annual report on Friday.

CEO Sergio Ermotti remained the highest paid member on the group executive board, with a total compensation of $14.76m, up 28% from 2014. His bonus jumped 37% to $11.9m.

UBS’s disclosure comes after banks across Europe slashed their bonus pools, with Deutsche Bank and Credit Suisse cutting variable pay by 11%. While some of Europe’s largest banks posted losses in 2015, hurt by a slump in trading revenue and costs tied to restructuring plans, UBS posted the strongest profit since 2010.

To access the complete Bloomberg News article hit the link below:

UBS Bonus Pool Surges 14%, as Other Lenders Cut Compensation

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