Born 1968. Chief Executive Officer since 2019.
Education and professional experience: Master of Business Administration, Gothenburg School of Economics, MSc in Engineering Physics, Uppsala University, and MSc in Systems Engineering, Case Western Reserve University, U.S. Lars-Åke has more than 20 years of experience from companies in technology, media and telecom (TMT). Previous experience includes several leading positions as, inter alia, CEO and CTO at Telenor Sweden
Own and closely related persons’ holding in the company: 3,000,455 shares and 693,481 warrants
Other ongoing assignments: Director of Tele2 AB
Country manager Denmark
Born 1969. Country Manager Denmark since 2018.
Education and professional experience: Master’s in Economics from University of Copenhagen, Strategic Leadership Programme, London Business School, “Inter Alpha” banking programme, INSEAD and leadership programme “Mobilising People”, IMD. Anne has more than 20 years of experience from the Danish and Nordic financial sector. Previous experience includes several leading positions at Nordea in the wealth management unit, most recently as Nordic responsible for financial advisory services to private individuals
Own and closely related persons’ holding in the company: 207,526 shares and 208,044 warrants (through a company)
Other ongoing assignments: Director of PKA + Pension, Bølgebrus Holding ApS and Ress Life Investment A/S
Chief Product Officer
Born 1976. Chief Product Officer since 2018.
Education and professional experience: MSc in Business and Economics, Stockholm School of Economics. Previous experience from several leading positions in SEB, inter alia, Chief Strategy Officer and responsible for the bank’s digitalisation and digital channels. Rasmus has previously worked at the global investment bank UBS in London
Own and closely related persons’ holding in the company: 349,569 shares and 416,088 warrants
Other ongoing assignments: Assignments as chairman of the board and director of companies within the Group
Chief Financial Officer
Born 1965. Chief Financial Officer since 2019.
Education and professional experience: MSc in Economics, Stockholm University and certified financial analyst, Stockholm School of Economics. Lennart has experience from the financial services sector and has had positions such as CEO of SalusAnsvar and CFO at SBAB and HSBC Investment Bank Stockholm Branch
Own and closely related persons’ holding in the company: 230,055 shares and 208,044 warrants
Other ongoing assignments: Director of companies in the Group and Karl Lennart Krän konsult och affärsutveckling AB
Chief Technology Officer
Born 1980. Chief Technology Officer since 2021.
Education and professional experience: Master of science in Electrical Engineering, Chalmers University of Technology, Gothenburg. Elias has 11 years of experience from Avanza, being the CTO of Avanza for his last three years. Elias joined Nordnet in 2019 as Head of Engineering, and became CTO of Nordnet in 2021.
Own and closely related persons’ holding in the company: 31,595 shares and 34,674 warrants
Other ongoing assignments: –
Country manager Sweden
Born 1976. Country Manager Sweden since 2018.
Education and professional experience: BSc in Business Administration and Economics, Stockholm University. Previous experience includes several leading positions in savings and investments within SEB
Own and closely related persons’ holding in the company: 263,197 shares and 208,044 warrants (through a company)
Other ongoing assignments: Director of MAMM Invest AB
Country manager Norway
Born 1976. Country Manager Norway since 2008.
Education and professional experience: Master of Finance from Norweigan School of Economics. Anders has more than 15 years of experience from the Norwegian and Nordic banking, insurance and financial market. Previous experience as consultant within banking, insurance, finance and CRM (customer relationship management) at Accenture
Own and closely related persons’ holding in the company: 207,420 shares and 208,044 warrants (through a company)
Other ongoing assignments: Director of Nordnet Livsforsikring AS and the Foundation AksjeNorge as well as CEO of Skarface AS
Chief Communications Officer
Born 1968. Chief Communications Officer since 2012.
Education and professional experience: Master of Laws, Uppsala University and courses at Berghs School of Communication. Previous positions as Deputy CEO and corporate lawyer at E-Trade Sverige, an American digital bank for savings and investments, and Founder of the fund company Bergsgård Petersson Fonder AB, in which he had positions as director and Deputy CEO.
Own and closely related persons’ holding in the company: 150,478 shares and 208,044 warrants
Other ongoing assignments: –
Chief Operations Officer and Chief Human Resource Officer
Born 1965. Chief Operations Officer since 2011.
Education and professional experience: MSc in Business Administration, Stockholm School of Economics. Carina has more than 20 years of experience in the finance industry with emphasis on asset management, operations and product development. Previous positions as CEO and Head of Products at Swedbank Robur Fonder
Own and closely related persons’ holding in the company: 155,296 shares and 208,044 warrants
Other ongoing assignments: Director of Tovi Holding AB
Country manager Finland
Born 1976. Country Manager Finland since 2016.
Education and professional experience: MSc in Economics, University of Tampere, Finland. Suvi has more than 20 years of experience from the financial sector and has had positions as Head of Online Desk, stockbroker, specialist in payment control and risk management at eQ Bank. Founder of Propertit OY
Own and closely related persons’ holding in the company: 135,146 shares and 208,044 warrants
Other ongoing assignments: Director of Propertit Oy
The Group Management team consists of ten people, including the CEO. Group Management represents essential business areas within the Nordnet Group, including our four markets Sweden, Norway, Denmark and Finland.
The CEO is subordinated to the Board and responsible for the everyday management and the operations of the Company. The division of responsibilities between the Board and the CEO are stated in the Board’s rules of procedures and the CEO’s instructions. The latest CEO instruction was adopted by the Board on September 3 2020. The CEO is responsible for compliance with the objectives, policies and strategic plans for the Group decided by the Board. The CEO also produces the requisite information following the Group’s position, earnings, liquidity and development in general, necessary information and decision basis prior to Board meetings, and acts as a rapporteur at the Board meetings. The CEO must ensure that the Board receives adequate information for the Board to be able to evaluate the Company’s financial condition continuously.
The CEO leads the work of the Group Management team and makes decisions in consultation with other members of management. Group Management holds regular meetings at which both strategic and operational issues are discussed. In addition, Group management produces business plans each year, which are followed up via monthly reports.
The Boards of Nordnet AB (publ), Nordnet Bank AB, Nordnet Pensionsförsäkring AB and Nordnet Livsforsikring AS have, in accordance with established requirements, adopted remuneration guidelines in order to establish a compensation system in each company that promotes fair and effective risk management and prevents an excessive risk taking.
Remuneration issues are prepared by each company’s board or, if applicable, the remuneration committee and later approved by each company’s board of directors. Each company’s board analyses all the risks which the Company is or may be exposed to, including the risks associated with the current remuneration policy. Based on the analysis the respective board identifies which employees are deemed to be employees whose work has a significant impact the company’s risk profile or staff that could affect the company’s risk level. Latest admitted analysis can be found here:
Redogörelse för Nordnets ersättningssystem och analys av risker förenade med ersättningssystemet (In Swedish) updated 24 March 2021.
Remuneration to the CEO and other members of the management team is made up of fixed salary, possible cash variable remuneration, possibility to participate in long-term share-related incentive plans resolved by the general meeting, pension and as well as other customary benefits.
The senior executives’ fixed salary is revised each year and shall be competitive and based on the individual’s competence, responsibility and performance. The fixed remuneration shall also constitute a sufficiently large part of the executive’s total remuneration to enable the variable components to be set at zero.
Fixed monthly salary of the CEO Lars-Åke Norling amounted to SEK 437,500 until March 2020 and to SEK 583,333 from 1 April 2020. For more information, see Note 12 in the Annual Report 2020.
The senior executives’ variable cash remuneration shall be based on how well-defined targets for their respective areas of responsibility and for Nordnet as a whole have been met. Both financial and non-financial criteria shall be taken into account in the assessment. The maximum payment of the variable remuneration may not exceed a maximum of 100% of the senior executive’s annual fixed salary. If the variable remuneration during one year exceeds SEK
100,000, at least 60 percent of the remuneration shall be postponed for at least three years before it is paid out or ownership goes over to the senior executive.
Read more about variable remuneration in the Board of Director's report in the Annual Report 2020.
Long-term share-based incentive programs
Long-term share-based incentive programs shall be decided on by the General Meeting and is therefore not covered by remuneration guidelines.
The pensions provisions to all senior executives, shall be covered by the same policy, except for the CEO. The pension commitments shall be premium-based and are secured by premium payments to insurance companies. The size of the pension premiums follows the company’s pension plan and shall essentially correspond to the provision levels that apply according to the BTP 1-plan and have limitation as follows in relation to the fixed annual salary. No contributions are made for salary components exceeding 30 income base amounts calculated on an annual basis. For members of Company management who are not resident in Sweden, local rules leading to a pension under the same conditions are applied. As general rule, variable cash remuneration shall not be pensionable.
The CEO is entitled to monthly pension contributions corresponding to 35 % of the base salary. Regarding pension costs, see the Annual Report for fiscal year 2020.
Other possible benefits shall be customary and facilitate the executive’s ability to perform its tasks, such as company car, occupational health care and health insurance.
Upon notice by Nordnet, the period of notice shall be a maximum of 12 months. Upon resignation by the senior executive, the period of notice shall be a maximum of six months. Severance pay should not exist.