In 2022, Sergio Ermotti, CEO of UBS, was the highest-paid banker in Europe, earning 14.4 million Swiss francs for nine months of work. Prior to taking on this role, he had served as Credit Suisse’s leader for nine years and oversaw the merger of the two banks. In contrast, his predecessor Ralph Hamers earned 12.6 million francs for a full year of work in the same year. According to UBS’s annual report, Ermotti’s compensation totaled 14.7 million euros (equivalent to 14.4 million francs) for his time at the helm. This puts him ahead of JPMorgan Chase CEO Jamie Dimon, who earned $36 million in the same year as the highest-paid banker in the US.