CEO and Management

Nordea’s President and CEO is charged with the day-to-day management of Nordea Bank and the Nordea Group’s affairs in accordance with laws and regulations, the Code, as well as instructions provided by the Board of Directors. The instructions regulate the division of responsibilities and the interaction between the CEO and the Board. The CEO works closely with the Chairman of the Board, for instance with planning of Board meetings.

The CEO is accountable to the Board for the management of the Nordea Group’s operations and he is also responsible for developing and maintaining effective systems for internal control within the Group. Further information regarding the control invironment for risk exposures is found in the separate section Risk, Liquidity and Capital management . The CEO works together with senior officers within the Group in GEM. Presently GEM consists of seven members and the CEO. GEM has recorded weekly meetings. These meetings are chaired by the CEO, who reaches decisions after consulting with the other members of GEM.