(MENAFN- Swissinfo)
Hamers took over as chief executive of UBS at the beginning of November 2020. Keystone / Walter Bieri
The chief executive of Switzerland's largest bank, Ralph Hamers, has earned CHF12.6 million ($13.5 million) last year, an increase of CHF1.1 million on 2021.
This content was published on March 6, 2023 - 09:04 March 6, 2023 - 09:04 SRF/SWI/gu Of the CHF12.6 million, CHF2.9 million make up the fixed salary and CHF9.7 million the variable part of the salary, according to the UBS's annual reportexternal link published on Monday.
The entire executive board of UBS was paid a total of CHF106.9 million in 2022, compared to CHF107.8 million the year before.
Colm Kelleher, who has been chairman of the UBS board of directors since April 2022, will receive CHF 4.8 million for his first year until the next annual general meeting.
The entire board of directors earned CHF12.6 million, slightly more than the CHF12.1 million earned in 2021. Kelleher's predecessor, Axel Weber, had received CHF5.2 million for the period 2021/22.
Buyback programmeThe UBS board of directors will propose a new share buyback programme at the annual general meeting next month.
The new share buyback program will have a value of up to $6 billion (CHF5.6 billion) and will run for two years until 2025. The new share buyback program is to be launched immediately after the completion of the current 2022 share buyback program, according to the invitation to the AGM.
Since the end of March 2022, UBS has been running a programme to buy back up to six billion registered shares by 2024. As the bank had already announced with the fourth-quarter figures at the end of January, shares worth more than $5 billion are to be repurchased this year under the current share buyback programme and the new 2023 programme.
More
More
why switzerland matters for the tropical forests
while there is this deep-rooted tradition of respect of the environment in switzerland it does not necessarily extend beyond the country's borders.
Articles in this story
why switzerland matters for the tropical forests
Tags:
In compliance with the JTI standards
More: swi swissinfo.ch certified by the journalism trust initiative
Contributions under this article have been turned off. You can find an overview of ongoing debates with our journalists here . Please join us!
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch .
Read more
MENAFN06032023000210011054ID1105712161
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.