Remuneration

Remuneration in SEB 2019 (SEK thousands)
  Base
salary
Cash-based
variable
remuneration
Expensed
amount
equity-based
programmes
Benefits Total Pensions
President and CEO Johan Torgeby 1) 12,000   3,138 373 15,511 3,912
Other members
of the GEC 3)
56,439   16,292 1,713 74,444 16,878
Total 68,439 0 19,430 2,086 89,955 20,790
SEB excl. GEC 8,592,788 724,833 629,618 60,749 10,007,989 1,332,705
SEB Total 8,661,227 724,833 649,048 62,835 10,097,944 1,353,495

1) Johan Torgeby did not exercise any share rights in 2019.
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 1,960,501

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