UBS Group AG CEO Sergio Ermotti's paycheck for 2024 stood at 14.9 million Swiss francs (approximately $16.8 million), the bank revealed in its latest annual report. In 2023, when Ermotti worked only nine months for UBS, he received 14.4 million.

For 2024, the bank's entire Executive Board will receive 143.6 million Swiss francs, compared to 140.3 million Swiss francs paid out in 2023.

"The year 2024 marked another 12 months of change for UBS and the world we live in. In the first full year since our acquisition of Credit Suisse, we transitioned from stabilizing a precarious situation to making significant strides toward integration ... UBS is now stronger, more diversified and better positioned strategically to benefit both our clients and our shareholders in a rapidly changing world," the shareholder letter read.