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(Bloomberg) -- Swiss chief executive officers are increasingly subject to long-term incentives, according to a study on compensation by Willis Tower Watson. Average total pay of a head of a Swiss Leader Index company rose to 5.98 million francs ($6 million) last year, an annual gain of more than 4 percent. UBS Group AG’s Sergio Ermotti and Novartis AG’s Joe Jimenez topped the ranking with 13.4 million francs and 11.8 million francs, respectively.

--With assistance from Michele Kalberer

To contact the reporter on this story: Mara Bernath in Zurich at mbernath1@bloomberg.net.

To contact the editors responsible for this story: Mariajose Vera at mvera1@bloomberg.net, Sheldon Reback at sreback@bloomberg.net, Zoe Schneeweiss

©2017 Bloomberg L.P.

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