UBS, a Swiss bank, has launched a new $2 billion share buyback program. The bank plans to repurchase up to $1 billion of its shares this year, with the aim of exceeding its pre-acquisition levels by 2026. This move follows the completion of a $5.2 billion buyback program in 2022. Share buybacks allow companies to return cash to shareholders and often indicate a positive outlook for the company's stock.
UBS CEO Sergio Ermotti received a $15.9 million compensation package in 2023, after he returned to lead the bank's merger with Credit Suisse. The bank's total executive board compensation increased to $159.5 million, with bonuses being reduced by 14% to $4.5 billion. Despite facing merger-related expenses, UBS has performed well, with its stock price rising since Ermotti's return.
