- UBS Group AG raised Chief Executive Officer Ralph Hamers’ compensation for last year by 11%.
- Overall bonus pool for the Zurich-based lender was cut 10% to $3.3 billion.
- UBS increased profit by 2.3% last year, with cost cuts including in personnel expenses making up for lower revenue.
- Cross-town rival Credit Suisse is mired in a complicated restructuring that includes thousands of job cuts and a spin-out of the investment bank.
- At Deutsche Bank AG, rates traders received some of the biggest increases in bonuses.
UBS Chief Hamers Gets 11% Pay Increase While Cutting Bonuses
UBS Group AG raised Chief Executive Officer Ralph Hamers’ compensation for last year by 11%, making him one of Europe’s best-paid bank bosses, even as bonuses for the rest of the firm were cut in a challenging period for dealmaking.
Myriam Balezou
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