Remuneration

Remuneration in SEB 2016 (SEK thousands)
  Base
pay
Cash-based
variable
compen­sation
Expensed
amount
equity-based
programmes
Benefits Total Pensions
President and CEO,
Annika Falkengren
11,500   6,343 1,425 19,268 5,000
Other members
of the GEC 1)
48,855   21,997 1,650 72,502 15,347
Total 60,355 0 28,340 3,075 91,770 20,347
SEB excl. GEC 8,045,057 683,978 674,016 91,304 9,494,355 1,347,352
SEB Total 8,105,412 683,978 702,356 94,379 9,586,125 1,367,699

1) The number and composition differ somewhat during the year but on average eleven members are included. 
During the year the President and CEO has exercised share rights to a value of SEK 6,398,251. 
The corresponding value for the GEC excluding the President is SEK 8,181,695.

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