UBS boosts compensation for CEO and staff after profit rises

Zurich

UBS Group AG boosted chief executive officer Sergio Ermotti's pay and increased the bank's bonus pool by about 6 per cent after underlying profit rose.

The Zurich-based lender boosted the bonus pool for 2017 to 3.1 billion Swiss francs (S$4.3 billion), according to its annual report published on Friday. Mr Ermotti remains the highest paid executive, earning 14.2 million francs, up from the 13.7 million francs he received in 2016. That includes 11.4 million francs in variable compensation.