Compensation in 2015

For the 2015 business year, the members of the Board of Directors received a fixed compensation of CHF thousands 934. Contributions to pension schemes and other welfare schemes amounted to CHF thousands 110. The fixed compensation was paid in cash (CHF thousands 764) as well as in the form of an entitlement to acquire LLB shares (CHF thousands 170). The entitlement to acquire shares is subject to a blocked period of three years.

In comparison with the previous year, the total compensation of the members of the Board of Directors increased by CHF thousands 64 or 6.5 percent. The increase in the compensation of the members of the Board of Directors is attributable to the adjustment of the fees for the members of the Board of Directors who reside in Switzerland.

For the 2015 business year, the members of the Group Executive Board received a fixed compensation of CHF thousands 3’134 and a variable compensation of CHF thousands 962. Contributions to pension schemes and other welfare schemes amounted to CHF thousands 1’022. The fixed compensation was paid in cash. The variable compensation was paid in cash (50 %) as well as in the form of an entitlement to acquire LLB shares (50 %), which is subject to a blocked period of three years. The number of shares for the share-based compensation corresponds to the average share price of the last quarter of 2015 (CHF 35.05). The variable compensation for the members of the Group Executive Board was, on average, approximately 30.7 percent of the fixed compensation or 18.8 percent of total compensation.

The compensation of the members of the Group Executive Board in 2015 decreased by CHF thousands 756 or 12.9 percent. The reduction was largely the result of the lower variable compensation. The MAPI was minus 17.9 percent, which corresponds to an attainment of targets of 55.3 percent.

The total compensation of the members of the Board of Directors and the members of the Group Executive Board for the 2015 business year is reported on an accrual basis. The variable compensation was charged to the 2015 income statement. Payment of the STI to the members of the Group Executive Board will be made in the first quarter of 2016. The entitlement to acquire LLB shares by the Group Executive Board (LTI) and the Board of Directors is subject to a blocked period of three years.

Details of the compensation and the participations of the members of the Board of Directors and the Group Executive Board, as well as loans to them are shown in the following.

Enlarge table(XLS:) Download
Compensation of key management personnel

 

Salary fixed *

Salary variable

Contribution to benefit plans and other social contributions

Share-based payments

Entitlements

Total

in CHF thousands

2015

2014

2015

2014

2015

2014

2015

2014

2015

2014

2015

2014

*

Fixed compensation fee, meeting allowances.

**

The Chairman receives a fixed compensation for his 70 percent workload. He does not receive meeting allowances.

***

The Board of Management comprises six members.

Members of the Board of Directors

Hans-Werner Gassner, Chairman **

300

300

0

0

74

74

0

0

40

40

414

414

Markus Foser, Vice Chairman

119

116

0

0

9

9

0

0

30

30

158

155

Markus Büchel, Member

64

64

0

0

5

5

0

0

20

20

89

89

Ingrid Hassler-Gerner, Member until 09 May 2014

 

25

 

0

 

0

 

0

 

7

 

32

Patrizia Holenstein, Member

74

65

0

0

6

5

0

0

20

20

100

90

Roland Oehri, Member

70

70

0

0

5

5

0

0

20

20

95

95

Gabriela Nagel-Jungo, Member since 10 May 2014

63

32

0

0

5

2

0

0

20

13

88

47

Urs Leinhäuser, Member since 10 May 2014

74

42

0

0

6

3

0

0

20

13

100

58

Total

764

714

0

0

110

103

0

0

170

163

1'044

980

 

 

 

 

 

 

 

 

 

 

 

 

 

Members of the Board of Management ***

Roland Matt, CEO

637

637

87

115

183

182

0

0

87

115

994

1'049

Other members of the Board of Management

2'497

2'430

394

794

839

807

0

0

394

794

4'124

4'825

Total

3'134

3'067

481

909

1'022

989

0

0

481

909

5'118

5'874

(XLS:) Download

No member of the Board of Directors or the Board of Management owns more than 0.1 percent of the voting rights.

(XLS:) Download

 

Fixed mortgages

Variable mortgages

Total

in CHF thousands

31.12.2015

31.12.2014

31.12.2015

31.12.2014

31.12.2015

31.12.2014

Members of the Board of Directors

Hans-Werner Gassner, Chairman

0

0

0

0

0

0

Markus Foser, Vice Chairman

300

0

0

0

300

0

Markus Büchel, Member

1'294

1'297

0

0

1'294

1'297

Patrizia Holenstein, Member

0

0

0

0

0

0

Roland Oehri, Member

0

0

0

0

0

0

Gabriela Nagel-Jungo, Member

400

400

0

0

400

400

Urs Leinhäuser, Member

0

0

0

0

0

0

Related parties

1'580

1'838

0

0

1'580

1'838

Total

3'574

3'535

0

0

3'574

3'535

 

 

 

 

 

 

 

Members of the Board of Management

Roland Matt, CEO

1'255

1'539

0

0

1'255

1'539

Other members of the Board of Management

1'560

1'602

0

0

1'560

1'602

Related parties

0

0

0

0

0

0

Total

2'815

3'141

0

0

2'815

3'141

At 31 December 2015, the maturities of the fixed mortgages for the members of the Board of Directors and related parties ranged between 11 and 119 months (previous year: between 15 and 47 months) at standard market client interest rates of 1.10 to 1.60 percent p.a. (previous year: 1.00 to 1.55 %). At 31 December 2015, the maturities of the fixed mortgages for the members of the Board of Management ranged between 1 and 114 months (previous year: between 12 and 46 months) at standard market client interest rates of 1.05 to 2.875 percent p.a. (previous year: 1.80 to 2.875 %).

Of the total amount for mortgages for the members of the Board of Management, CHF thousands 750 (previous year: CHF thousands 1’000) was granted at the preferential interest rate for staff, the remainder was subject to the standard market client interest rate. In the previous year no new loans were granted. The fair value of cover of new loans granted amounted to CHF thousands 1’577 (previous year: CHF thousands 835).

No allowances for loans to management were necessary. The LLB issued no guarantees to third parties on behalf of management.