Palkkiovaliokunta

The Board Remuneration Committee (BRC) is responsible for preparing and presenting proposals to the Board of Directors on remuneration issues.

This duty includes proposals regarding the Nordea Remuneration Policy and underlying instructions and guidelines for remuneration to the executive officers to be decided by the AGM. Furthermore, proposals regarding the remuneration for the CEO, other member of GEM as well as the CAE and, on proposal by the CEO, for the Group Compliance Officer and the Head of Group Credit Control.

At least annually, the BRC follows-up on the application of the Nordea Remuneration Policy and underlying instructions through an independent review by Group Internal Audit as well as exercises an assessment of the Nordea Remuneration Policy and remuneration system with the participation of appropriate Control Functions. The BRC also has the duty to annually monitor, evaluate and report to the Board on the programmes for variable remuneration to GEM, as well as the application of the guidelines for remuneration to executive officers. At the request of the Board the BRC also prepares other issues of principle for the consideration of the Board.

Members of the BRC are Marie Ehrling (Chairman), Peter F Braunwalder and Björn Wahlroos, as from AGM 2012. Generally, the CEO and the Head of Group Human Resources are present at meetings, with the right to participate in discussions but not in decisions. The CEO does not participate in considerations regarding his own employment terms and conditions.

According to the Code the members of the BRC are to be independent of the Company and the executive management of the Company. Nordea complies with this rule. For more information on independence.

Updated: March 2012