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.
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