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Criticism as Handelsbanken increases its various board members' renumeration
Wednesday, 07 March 2012
As the banking
sector in Sweden start looking for other sources of paying themselves
back, large, Handelsbanken has taken the first leap and increased its
remunerations to its board members and chairman. This has ignited
growing criticisms from members and the savers.
All this happens as the other big banks watch probably observing the
effect their action will cause from the view of the customers and the
public before they too could follow suit.
When the banks call the shareholders to AGMs, it will be the only major
bank that chooses to raise the fees for its board among the big banks
in Sweden. Svenska Dagbladet.
Last year,
Handelsbanken chose to raise compensation and became the highest paying
in the sector. Chairman Hans Larsson had an increase of 30 percent, to
Skr3 million. Now the bank's chairman will have a raise again - to
levels that the other banks barely come close to. This time it is
raised by an additional Skr150 000, according to Swedish daily Svenska
Dagbladet.
Now savers and shareholders respond in a more critical manner of the high levels of rewards.
They can be
compared to SEB's President Jacob Wallenberg who receives Skr2.25
million and Nordea chairman Bjorn Wahlroos who is paid receive Skr2.24
million.
Swedbank bank chairman Lars Idermark is the lowest paid of the four giant bank, and get Skr1.35 million.
By Scancomark.se Team
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