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Dear Sergio Ermotti, with 14.4 million francs you can reward yourself with 14.4 million francs in your first nine months at the head of the new UBS. Of course: Ermotti only gets the reward the compensation committee gave him. Adhering to the rules, agreements and contracts, he calculated this terrible sum.
But it would be up to you to say: Friends, this is too much, 10 million francs is enough for me. You yourself said that it was your patriotic duty to undertake this task. This can’t just be about money.
The amount of the bonus is also an indication of the appreciation shown to you. But that was true for your first time at the helm of UBS. You made the bank so strong at that time that, a few years after your resignation, you were able to save Credit Suisse and save the financial center from a worse situation.
call of money
For many of you, you are considered the real hero of CS recovery. As the guy who picks up the phone at halftime to begin the “Integration of CS” mission. Many people are counting on you, along with all your employees, as the only person who can accomplish this monumental task. As the financial center, the economy and the person who takes on this fight for Switzerland. It is difficult to imagine that only very high wages attract you.
There are many heroes in history whose monuments were erected only after their death. They would have the chance to establish one while they were still alive. By handing over to your successor a bank that is so successful, risk-conscious and prudent that Switzerland will never have to bail out a major bank again.
But now it looks like you’ve joined the list of executives who are more into idle money. What a pity. You laid a beautiful egg just before Easter!
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
