Swedish bank axes all managers’ bonuses after scandal
Swedbank’s board cracks down on executives after money-laundering crisis damages public trust in the bank
04 February 2020 - 17:55
Copenhagen/Stockholm — The most senior managers working at Sweden’s biggest mortgage bank won’t be getting bonuses to reflect 2019’s bumper profits.
Swedbank’s board wants to send a clear message that a bank being investigated for money laundering can’t reward its highest-ranking people, no matter how much business they bring in. So it’s withholding payments into two bonus programmes for 170 top managers...
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