UBS Bonus Pool Soars 24% With CEO Hamers Getting Pay Surge

UBS Group AG boosted its bonus pool by almost a quarter and paid new Chief Executive Officer Ralph Hamers a 3 million franc bonus ($3.2 million) to reward him for this first few months in charge, more than he typically earned for a full year at ING Groep NV.

UBS set aside $3.3 billion for variable compensation last year, a 24% increase compared with 2019, according to the Zurich-based lender’s annual report on Friday. Hamers earned a total of 4.2 million francs during his first four months on the job including the bonus. The bank said 80% of the performance ...