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UBS CEO Gets 11% Raise While Cutting Bonus Pool by 10%  

UBS Group has announced an 11% pay hike for CEO Ralph Hamers at the same time as the Zurich-based lender disclosed a 10% cut to its overall bonus pool. So reports Bloomberg.

UBSHamers’ 2022 compensation of 12.2 million Swiss francs ($13 million) made him one of Europe’s highest-paid banking CEOs.

The bonus pool shrank to $3.3 billion, UBS said in its annual report, amid lower revenue from dealmaking. The bank said in the report, “Ralph Hamers successfully led UBS through a challenging year and delivered good financial results despite significant headwinds due to geopolitical and macroeconomic developments.”

Read the full article from Bloomberg.

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