Sergio Ermotti, the CEO of UBS, was paid 14.4 million Swiss francs for nine months of work in 2023, making him the best-paid banker in Europe. Ermotti took on the role in April to oversee the merger of Credit Suisse, having previously served as the bank’s leader for nine years. In contrast, his predecessor Ralph Hamers earned 12.6 million francs for a full year of work in 2023.

According to UBS’s annual report, Ermotti’s compensation for his nine months at the helm totaled 14.4 million francs (equivalent to 14.7 million euros). This places him at the top of the list of highest-paid bankers in Europe. For comparison, the highest-paid banker in the US, JPMorgan Chase CEO Jamie Dimon, earned $36 million in the same year.