Ethos criticises remuneration of top managers of listed banks
Keystone-SDA
The salaries of the top managers of the big Swiss banks in 2025 have reached record levels, according to Ethos. The sustainable investment foundation is calling on the shareholders of UBS and Julius Bär to reject the remunerations at their annual general meetings.
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Coming in for particular criticism are the variable parts of CEOs’ salaries, reads a statement on Tuesday. This part in the case of Sergio Ermotti, CEO of UBS, is worth up to 4.8 times the basic salary of CHF2.5 million ($3.13 million).
For Giorgio Pradelli, CEO of EFG International, this ratio amounts to 4.5, and for the head of Julius Bär Stefan Bollinger to 4.1.
+ Two CEOs in Switzerland earn over CHF20 million – Ermotti’s not one of them
The maximum variable compensation suggested by Ethos – which strives for sustainable investments – is well below these ratios. The foundation suggests in most cases three times the basic salary. Such limits on bonuses are intended to prevent excessive risk-taking, a problem that has arisen in past crises.
In some cases, Ethos also criticises the composition of remuneration. In the case of Julius Bär, for example, there is an initial payment that is not clearly linked to performance.
The foundation wants to represent these positions at the general meetings of Julius Bär (April 9) and UBS (April 15). That of EFG International already took place on March 20, when all amounts were approved.
Adapted from Italian by AI/ts
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