Remuneration

Remuneration in SEB 2015 (SEK thousands)
  Base
pay
Cash-based
variable
compensation
Expensed
amount
equity-based
programmes
Benefits Total Pensions
President and CEO,
Annika Falkengren
10,500   5,792 1,262 17,554 5,000
Other members
of the GEC 1)
33,306   15,060 1,260 49,626 13,557
Total 43,806 0 20,852 2,522 67,180 18,557
SEB excl. GEC 8,324,246 660,226 641,105 107,723 9,733,299 1,353,661
SEB Total 8,368,052 660,226 661,957 110,245 9,800,479 1,372,218

1) The number and composition differ somewhat during the year but on average eight members (eight) are included. 
During the year the President and CEO has exercised share rights to a value of SEK 6,327,622. 
The corresponding value for the GEC excluding the President is SEK 5,271,357.

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