The President appoints the Heads of Divisions, the Head of Business Support and Heads of the different staff and Group functions. The Group's Chief Financial Officer is appointed in consultation with the Chairman of the Board.
SEB's President and Chief Executive Officer (CEO) is Johan Torgeby.
The President has three separate committees at his disposal for the purpose of managing the operations: the Group Executive Committee, the Asset and Liability Committee and the Group Risk Committee.
Group Executive Committee
To safeguard the interests of the Group as a whole, the President consults with the GEC on matters of major importance or of importance as to principles. The GEC deals with, among other things, matters of common concern to several divisions, strategic issues, business plans, financial forecasts and reports.
The GEC held 39 meetings in 2019.
Asset and Liability Committee
The ALCO, chaired by the President and with the CFO as deputy chair, is a Group-wide decision-making, monitoring and consultative body.
The ALCO, which held 13 meetings in 2019, handled the following matters, among others:
- financial stability – especially in the new regulatory framework
- strategic capital and liquidity issues
- structural issues and issues related to the Bank’s balance sheet and business volumes
- financing of wholly-owned subsidiaries
- the balance sheet and funding strategy for the SEB Group
Group Risk Committee
The GRC, chaired by the President and with the CRO as deputy chair, is a Group-wide, decision-making committee that addresses all types of risk at the President level in order to evaluate portfolios, products and clients from a comprehensive risk perspective.
The GRC held 67 meetings in 2019.
The GRC is authorised by the Board to make all credit decisions, with the exception of a few matters that are reserved for the RCC. In addition, the GRC is tasked with:
- ensuring that all risks inherent in the Group's activities are identified, defined, measured, monitored and controlled in accordance with internal and external rules
- supporting the President in ensuring that decisions regarding the Group's long-term risk appetite are followed in the business organisation
- ensuring that the Board's guidelines for risk management and risk control are adhered to and that the necessary rules and policies for risk-taking in the Group are maintained and enforced.