UBS chief executive Sergio Ermotti had his pay increased for 2014, even as the Swiss bank retroactively cut its profit for the year due to lingering legal issues.

Zurich-based UBS said on Friday that Ermotti received nearly Sfr11.2 million ($11.1 million) in total compensation for last year, up from Sfr10.7 million in 2013. UBS said in a public filing that Ermotti's pay was based on a strong performance for the bank, which was "tempered" by legal charges.