Personnel expenses (Tables)

12 Months Ended

Dec. 31, 2023

Personnel Expenses Tables [Line Items]

Disclosure Of Employee Benefits Tables Explanatory

For the year ended

USD m

31.12.23

31.12.22

31.12.21

Salaries

1

10,997

7,045

7,339

Variable compensation

2

9,845

7,954

8,280

of which: performance awards

3,986

3,205

3,190

of which: financial advisors

3

4,549

4,508

4,860

of which: other

1,310

241

229

Contractors

334

323

381

Social security

1,473

944

978

Post-employment benefit plans

4

1,361

794

833

of which: defined benefit plans

847

437

470

of which: defined contribution plans

514

357

363

Other personnel expenses

890

621

576

Total personnel expenses

24,899

17,680

18,387

1 Includes role-based allowances. 2 Refer to Note 28 for more information. 3 Consists of cash and deferred compensation awards and is based on compensable revenues and firm tenure using a formulaic

approach. It also includes expenses related to compensation commitments with financial advisors entered into at the time of recruitment that are subject to vesting requirements. 4 Refer to Note 27 for more

information. Includes curtailment gains of USD

29

m for the year ended 31 December 2023 (for the year ended 31 December 2022: USD

20

m; for the year ended 31 December 2021: USD

80

m), which represent a

reduction in the defined benefit obligation related to the Swiss pension plans resulting from a decrease in headcount following restructuring activities.