Swedbank’s remuneration programme
A well-functioning, competitive remuneration culture is an important element of stability and sound risk taking in the bank and to attract employees with the right skills.
Swedbank’s view is that compensation should, as far as possible, be individually based and thereby inspire employees to live up to Swedbank’s goals, strategy and vision. Compensation should also encourage them to embrace our values - simple, open and caring - which we are convinced is the basis of a successful and sustainable business. Furthermore, total compensation should be designed so that Swedbank can attract employees with the competence it needs, within established cost limits.
In 2011 Swedbank introduced a new harmonised structure for variable pay in the form of a general programme and an individual programme. The general programme, Eken, comprises most of Swedbank employees while the individual programme is limited to some specialists and managers. Eken, offers a long-term performance incentive and harmonises the interests of the employees with those of shareholders by making all employees shareholders as well.
Swedbank’s remuneration programme is in line with Swedish Financial Supervisory Authority (Finansinspektionen) new remuneration regulations which came into force 1 March, 2011.