The shareholder association Ethos is recommending that shareholders reject Swiss bank UBS's remuneration, share buyback programme and sustainability report at its AGM on April 10. +Get the most important news from Switzerland in your inbox "The remuneration of UBS's executive bodies is too high compared to European financial institutions," Ethos said in a statement on Thursday. Ethos recognises that the bank has not further increased the remuneration of CEO Sergio Ermotti for 2024 compared to 2023. Nevertheless, the salary remains one of the highest in Switzerland and Europe. + How to tame UBS without making the bank toothless Another criticism is that the variable remuneration of members of the Executive Board can amount to a maximum of seven times the basic salary. This potentially leads to excessive remuneration. "Such high payments and the very high leverage for variable remuneration can encourage excessive risk-taking, as the financial crisis of 2008 or the recent collapse of ...
