Remuneration culture in Swedbank

Total remuneration to Swedbank employees must be competitive and conform to market conditions whilst also reflecting the fundamental values of the Group: open, simple and caring. The remuneration structure must also support the Group’s business strategy and vision as well as encourage employees to achieve individual goals at the same time ensuring access to the right competence.

In order to be able to identify, control and manage the risks that may arise in a remuneration system, it must be structured so that it promotes a sound and effective risk management and prevents excessive risk-taking. Variable remuneration must be related to relevant, pre-determined and measurable criteria and designed to promote long-term value creation.

Variable remuneration programme

In March 2011, Swedbank’s Annual General Meeting adopted a broader Group-wide programme, comprising a larger, collective programme and a smaller, individual programme. The collective programme comprises in principle all employees in the Group and is based on deferred variable remuneration consisting of shares. The individual programme includes around 1 200 managers and specialists. This programme has higher requirements regarding individual assessment and risk taking. The individual programme is in two parts: cash remuneration and deferred variable remuneration consisting of shares.

Swedbank’s remuneration programme is in line with Finansinspektionen’s new remuneration regulations which came into force on 1 March 2011.

With the introduction of the new programme, there will be no further allocations made to the Kopparmyntet profit-sharing foundation.

Information about remuneration in Swedbank 2010