By Ariane Luthi ZURICH (Reuters) -UBS CEO Sergio Ermotti's total pay was 14.9 million Swiss francs ($16.9 million) last year, with the bank keeping his remuneration in check as it navigates a tense political debate about how it is regulated.

UBS Group AG awarded Chief Executive Officer Sergio Ermotti just under 15 million Swiss francs ($17 million) for 2024, keeping his compensation below the maximum possible at a time of heightened scrutiny in Switzerland over bankers’ pay.

UBS released its annual report on Monday, with executive compensation being the most debated section. The remuneration for CEO Sergio Ermotti, in particular, has drawn attention.

The pay package of UBS CEO Sergio Ermotti was 14.9 million Swiss francs ($16.85 million) in 2024, the bank said on Monday.

Die UBS zahlte ihrem CEO Sergio Ermotti für das Jahr 2024 knapp 15 Millionen Franken (16 Millionen Euro). Damit blieb seine Vergütung unter dem maximal möglichen Betrag.

The pay package of UBS CEO Sergio Ermotti came in just above 15 million Swiss francs ($17 million) in 2024, Swiss daily Blick reported, not citing where it obtained the information.

The CEO of Swiss bank UBS will receive roughly the same salary in 2024, despite working longer than the previous year.

UBS Group AG Chief Executive Officer Sergio Ermotti’s compensation for 2024 is set to reach just over 15 million Swiss francs ($17 million), Swiss newspaper Blick reported.

The pay package of UBS CEO Sergio Ermotti was 14.9 million Swiss francs ($16.85 million) in 2024, the bank said on Monday, holding it in check as the company attempts to navigate a tense political debate about how it is regulated.