Remuneration

Remuneration in SEB 2017 (SEK thousands)
  Base
salary
Cash-based
variable
remuneration
Expensed
amount
equity-based
programmes
Benefits Total Pensions
President and CEO Johan Torgeby 1) 7,125   1,523 112 8,760 2,625
President and CEO Annika Falkengren 2) 2,875     168 3,043 1,250
Other members
of the GEC 3)
49,225   15,489 1,854 66,568 16,918
Total 59,225 0 17,012 2,134 91,770 20,347
SEB excl. GEC 8,014,211 665,751 599,238 89,940 9,369,141 1,333,007
SEB Total 8,073,436 665,751 616,250 92,074 9,447,512 1,353,800

1) President and CEO as of 29 March. All amounts refer to the period 29 March -31 December. During this time J. Torgeby did not exercise any rights.
2) President and CEO up until 28 March. All amounts refer to the period 1 January - 28 March. During this time A. Falkengren did not exercise any rights.
3) The number and composition differ somewhat during the year but on average eleven members are included. The GEC, excluding the President, exercised rights to a value of SEK 23,030,558.

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