Remuneration

Remuneration in SEB 2020 (SEK thousands)
  Base
salary
Cash-based
variable
remuneration
Expensed
amount
equity-based
programmes
Benefits Total Pensions
President and CEO Johan Torgeby 1) 12,500   3,663 385 16,548 4,071
Other members
of the GEC 3)
62,840   14,820 1,703 79,363 18,893
Total 75,340 0 18,483 2,088 95,911 22,964
SEB excl. GEC 8,893,989 680,839 562,811 64,307 10,201,946 1,498,811
SEB Total 8,969,329 680,839 581,294 66,395 10,297,857 1,521,775

1) Johan Torgeby did not exercise any share rights in 2020.
2)The number of members may differ somewhat during the year. At the end of the year the number of members 
was eleven. In 2019, Other ordinary members of GEC exercised rights to a value of SEK 7,485,759.

The Group's remuneration strategy

SEB's remuneration system aims to attract, retain and motivate employees with the right competence who thereby contribute to the Bank's long-term success. Employees' compensation should encourage good performance, sound behaviour and risk-taking that are aligned with customer and shareholder expectations.

Read more about the Group's remuneration strategy

Statement of remuneration in SEB in accordance with the Swedish Financial Supervisory Authority's regulatory framework

The statements for the SEB Group and each legal entity under supervision of the Swedish Financial Supervisory Authority

Remuneration to the Board of Directors, the President and the Group Executive Committee

The Annual General Meeting decides on the Directors' fees.

SEB's Board of Directors prepares proposals as to principles for the remuneration and other terms of employment of the President and the Group Executive Committee, to be approved by the Annual General Meeting.

Read more about remuneration to the Board of Directors, the President and the Group Executive Committee

Equity-based compensation

Long-term equity-based compensation is a means to attract and retain staff with key competences. It also builds long-term commitment to SEB and creates an incentive for the employees to become shareholders of SEB.

Read more about equity-based compensation