Sergio Ermotti, the outgoing UBS group chief, earned in the past year, 12.5 million Swiss francs, slightly less than last year, when he 14.1 million Swiss francs once rich. The decline in the UBS with the decline in the return on equity and, in the first instance imposed a record buses, in the control method in France is justified.
For Ermottis colleagues in the Executive Board there were, however, more. They were able to increase the total compensation to 102.1 million Swiss francs, according to 100,8 million in the previous year. After deduction of Ermottis content for each and every one of the twelve men and women, an average of 7.4 million Swiss francs or 622'200 Swiss francs per month. An employee with a gross salary of 100'000 Swiss francs must work 74 years, nonstop, to earn the same as a top Executive of UBS in a year.
pull Clear to the top managers of the Bank carry a big responsibility. You are in Public, generally have an impressive track record, are usually brilliant, intellectual, assertive, stress resistant, analytical shod and so on and so forth. The trouble is, however, that among all these obviously very capable people no one can find let,the or the would have been trusted to the Post of group-heads of course.
Because, as last week it became known, is not Sergio Ermotti replaced by an internal candidate, but by Ralph Hamers, a Dutchman. Hamers, in turn, – and this is for the UBS large earned – income earners doubly embarrassing-at the time of his Still-employer ING significantly less than a member of the UBS Executive Board. This shows that, Despite the obviously very high financial incentives, the firm creates it in the top level management of appropriate talent to pull the ply for the Top Job. This is a failure at the highest level.
Created: 28.02.2020, 20:21 PMUpdated Date: 02 March 2020, 06:13