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UBS CEO Sergio Ermotti's pay package for 2024 is set at 14.9 million Swiss francs, with a stable base salary and a slight reduction in variable compensation. This decision comes amid ongoing political discussions about banking regulations following UBS's acquisition of Credit Suisse, which raised concerns about systemic risks. The total compensation for UBS's executive board is 143.6 million Swiss francs, with a group-wide bonus pool of US$4.7 billion.
UBS CEO Sergio Ermotti is set to receive a pay package of approximately US$17 million for 2024, as reported by Swiss daily Blick. This amount exceeds the 14.4 million Swiss francs he earned in 2023 for nine months of work, making him the highest-paid executive among major European banks. UBS acquired Credit Suisse for 3 billion Swiss francs amid a series of scandals, and the bank will disclose further details on Ermotti's remuneration in its upcoming full-year report.
Malaysian semiconductor designer SkyeChip is planning an initial public offering (IPO) in Malaysia, targeting a valuation of over 1 billion ringgit (approximately US$226 million) in the second half of 2025. This move supports Malaysia's initiative to enhance its semiconductor sector, which includes a US$250 million partnership with SoftBank’s Arm Holdings to advance domestic chip design. The country's IPO market experienced significant growth in 2024, raising US$1.6 billion, the highest since 2017.
Malaysian semiconductor designer SkyeChip is planning an initial public offering (IPO) in Malaysia, targeting a valuation of over 1 billion ringgit (approximately US$226 million) in the second half of 2025. This move supports Malaysia's initiative to enhance its semiconductor sector, which includes a US$250 million partnership with SoftBank’s Arm Holdings for domestic chip design. The country's IPO market experienced significant growth in 2024, raising US$1.6 billion, the highest since 2017.
In June, the inaugural Asia Economic Summit will facilitate crucial dialogues on regional policies and the economic future. Meanwhile, Amazon is considering launching a standalone payments app in India to compete with Google Pay and PhonePe, leveraging its existing user base. In Qatar, Yuno's entry into the fintech market aligns with the country's ambitions to become a global fintech leader, supported by government initiatives and a growing demand for financial services among expatriates.
In June, the inaugural Asia Economic Summit will facilitate crucial discussions on regional policies and the economic and digital future. Meanwhile, Amazon is considering launching a standalone payments app in India to compete with Google Pay and PhonePe, leveraging its existing user base. In Qatar, US payment firm Yuno has established its regional headquarters, aligning with the country's ambitions to become a fintech leader, supported by government initiatives and a growing market for cross-border remittances.
Khazanah Nasional Berhad, through its Dana Impak unit, has invested in chargEV, Yinson GreenTech’s EV charging arm, to bolster Malaysia's low-carbon transition. This investment, announced on March 10, aims to expand chargEV’s network to meet the target of 10,000 EV charging points nationwide by the Ministry of Investment, Trade, and Industry. Currently, Malaysia has 3,611 charging points, and the funding is expected to enhance operations and support the National Energy Transition Roadmap.
Khazanah Nasional Berhad, through its Dana Impak unit, has invested in chargEV, Yinson GreenTech’s EV charging arm, to bolster Malaysia's low-carbon transition. This investment, announced on March 10, aims to expand chargEV’s network to meet the target of 10,000 EV charging points nationwide by the Ministry of Investment, Trade, and Industry. Currently, Malaysia has 3,611 charging points, and the funding is expected to enhance operations and address the growing demand for charging solutions.
Two former Credit Suisse bankers, Andrew Pearse and Surjan Singh, have been banned in the UK for their involvement in a US$2 billion bond fraud in Mozambique, which included bribery and money laundering. Pearse faces a potential 151-month prison sentence in the US, while Singh accepted unlawful payments. The scandal involved corrupt loans for dubious maritime projects, leading to significant financial penalties for Credit Suisse and a ruling that Mozambique was defrauded.
Grab Malaysia has signed a Memorandum of Understanding with the Sarawak Digital Economy Corporation Berhad to enhance digital transformation in Sarawak. This partnership aims to boost tourism and support local small businesses by improving digital accessibility and promoting Sarawak as a key tourism destination in Southeast Asia. Additionally, the agreement focuses on increasing the use of electric vehicles for sustainable transportation within the state.
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ubs limits ceo ermotti's pay amid regulatory pressures in 2024
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