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CEO and Group Executive Committee

The CEO is responsible for managing Swedbank’s operations. The delegation of responsibility between the Board and the CEO is stipulated in, among other places, the Board’s rules of procedure, the Board’s instruction for the CEO, external rules and internal policies and regulations.

The CEO also establishes Group-level rules on internal control. To support internal control, the CEO has a number of monitoring units within the Group, mainly Group Finance, Risk and Compliance. Follow-ups are done monthly through written reports and detailed meetings with the heads of the various functions and with the business areas.

The CEO leads the work of the Group Executive Committee and makes decisions after consulting its members. The Group Executive Committee consists of (I) the CEO, (II) the Head of Baltic Banking, (III) the Head of Retail, (IV) the Head of Large Corporates & Institutions, (V) the Head of Large Corporates & Institutions, (VI) the Head of Russia & Ukraine, (VII) the Head of Group Business Support, (VIII) the Chief Financial Officer, (IX) the Chief Risk Officer, (X) the Head of Human Resources, (XI) the Head of Corporate Affairs and (XII) the Chief Legal Officer, totalling twelve members. The Head of Group Compliance is a co-opted member of the Group Executive Committee. The Group Executive Committee normally meets four times a month.

The CEO ensures that an evaluation of other senior executives is performed as well as being responsible for and ensuring that the Group has a strategy for competence management.

In late 2009 Swedbank introduced a new management structure as a step towards shifting responsibility and authority closer to the bank’s customers and thus making Swedbank a more customer-oriented bank.

At Group level there is also an Asset and Liability Committee, which handles issues concerning the balance sheet, liquidity and financial risk; a Group Risk and Compliance Committee, whose task is to improve efficiencies and handle operational risk issues; as well as a Remuneration Committee, GecRemco, which drafts proposals of remuneration systems and recommends variable compensation for employees to the Board’s Compensation Committee.

Major issues in 2010

  • Strategy process for the bank as a whole and at the
  • business area level.
  • Lowering the risk level by reducing the share of lending
  • in Russia, Ukraine and the Baltic countries.
  • Continued work with the decentralised business model, which requires a higher level of governance and monitoring, efficient processes and stronger administrative support.
  • A future funding strategy that reflects Basel 3 rules.
  • Implementation of the purpose and values.
  • Increased focus on the quality and effectiveness of products and IT by creating Group Business Support.
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