UBS paid some of its top bankers average bonuses of $1.4m, an increase of 27%, as the Swiss bank’s integration of Credit Suisse also cut thousands of employees in 2024.

The Swiss bank’s 835 so-called key risk-takers — senior employees whose actions can impact the overall risk profile of the firm — took home a total of $1.1bn in variable compensation for 2024, meaning average payouts were $1.38m.