Bonus Watch '15: UBS CEOs

Legal charges shmegal charges.

Author:: Bess Levin
Publish date:: Mar 13, 2015
Updated on: Jul 3, 2019

This year's bonus season wasn't bad for everyone, particularly those with whatever is German for "chief executive officer" on their email signature.

Sergio P. Ermotti, the UBS chief executive, saw his compensation increase nearly 5 percent in 2014, despite the Swiss bank’s financial performance for the year being “tempered” by legal and regulatory charges, the lender said on Friday...Mr. Ermotti received total compensation of 11.2 million francs for 2014, up from 10.7 million francs in the prior year.

Obviously this is news worth celebrating, if someone can catch an early flight to NYC tomorrow.

UBS Chief Executive’s Pay Rose Nearly 5% in 2014 [Dealbook]

And it wasn't just one of those giant Toblerone bars.

Not everyone received a package that resulted in a nice long cry. Andrea Orcel, for example, did pretty okay for himself.

Stephen Schwarzman's performance review must have gone really well.

...did pretty well for themselves this last go around, particularly compared to their counterparts at JP Morgan, Morgan Stanley, BofA, and Citigroup.

The Swiss bank will reportedly announce today that it's going to be doing things a little differently around here re: compensation. One, deferrals will start at $250,000 and two, rather than being paid in UBS stock, the non-cash portion of 6,500 senior employees' bonuses will come in the form of subordinated debt that can and will be wiped out in the event the amount of capital on hand falls below the level required by EU regulators, putting the onus on everyone to make sure no one pulls an Adoboli and avoids multi-billion dollar fuck-ups in general.

The board has decided Corbat did a 10 percent shittier job last year than in 2013.