In 2022, Sergio Ermotti, the managing director of UBS, was the highest paid banker in Europe. He earned 14.4 million Swiss francs for nine months of work, which is equivalent to 14.7 million euros. This compensation put him at the top of the list of highest paid bankers in Europe. By contrast, his predecessor Ralf Hammers earned 12.6 million francs for a full year of work in the same year.
In April, Ermotti took on the role at UBS to oversee the Credit Suisse merger. Prior to this role, he had led the bank for nine years. On the other hand, Jamie Dimon, CEO of JPMorgan Chase & Co., was the highest-paid banker in the US and earned $36 million in the same year. Despite these differences in pay between Europe and America, it’s clear that Ermotti’s impressive compensation package reflects his leadership and expertise as a banking executive.