UBS CEO Sergio Ermotti's total pay was 14.9 million Swiss francs ($16.9 million) last year, with the bank keeping his remuneration in check as it navigates a tense political debate about how it is regulated.

UBS Group AG awarded Chief Executive Officer Sergio Ermotti just under 15 million Swiss francs ($17 million) for 2024, keeping his compensation below the maximum possible at a time of heightened scrutiny in Switzerland over bankers’ pay.

ZURICH (Reuters) - The pay package of UBS CEO Sergio Ermotti was 14.9 million Swiss francs ($16.85 million) in 2024, the bank said on Monday. Total fixed and variable compensation for the group's executive board in 2024 was 143.6 million Swiss francs ($162.43 million) according to the bank's annual report.