Group Management.
Lars-Åke Norling
CEO
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: 1,522,393 shares and 54,053 warrants
Other ongoing assignments: Director of Tele2 AB
Rasmus Järborg
Chief Product Officer and Deputy CEO
Born 1976. Chief Product Officer since 2018 and Deputy CEO since 2021.
Education and professional experience: MSc in Business and Economics, Stockholm School of Economics. Previous experience from several leading positions in SEB, including Chief Strategy Officer and responsible for the bank’s digitalisation and digital channels. Rasmus has previously worked at UBS Investment Bank in London.
Own and closely related persons’ holding in the company: 250,000 shares and 60,151 warrants
Other ongoing assignments: Board member of Hemnet.
Lennart Krän
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: 60,000 shares and 54,581 warrants
Other ongoing assignments: –
Elias Lindholm
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,
where he served as CTO during his final three years with the company. 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: 25,595 shares and 16,087 warrants
Other ongoing assignments: –
Johan Tidestad
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: 50,559 shares and 25,619 warrants
Other ongoing assignments: –
Carina Tovi
Chief Human Resource Officer
Born 1965. Chief Human Resource Officer since 2018.
Education and professional experience: MSc in Business Administration, Stockholm School of Economics. Carina has more than 30 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: 73,081 shares and 11,373 warrants
Other ongoing assignments: Board member of Mattecentrum.
Suvi Tuppurainen
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: 134,946 shares and 29,642 warrants
Other ongoing assignments: Chairman of the Board at of Propertit Oy
Tine Vestergren Uldal
Country manager Denmark
Born 1984. Country Manager Denmark since 2023.
Education and professional experience: Degree in law and business administration. Tine has over 17 years of experience from Nordea and has participated in the Nordea Young Significant Talent program as well as a training in investment strategies from Wharton. At Nordea she most recently worked in the role of Head of Investment Services & Development. Previous experience also includes roles as Head of Wealth & Investment Advice and Director, Institutional Clients.
Own and closely related persons’ holding in the company: – shares and 6,684 warrants.
Other ongoing assignments: –
Mari Rindal Øyen
Country manager Norway
Born 1982. Country Manager Norway since 2023.
Education and professional experience: Master of Finance from Norweigan School of Economics. Mari has more than 17 years of experience from Storebrand and comes most recently from the role as SVP Savings Retail Market.
Own and closely related persons’ holding in the company: – shares and – warrants
Other ongoing assignments: Board Member at Dimensions Agri Technologies.
Per Lindberg
CEO Nordnet Pensionsförsäkring
Born 1976. CEO Nordnet Pensionsförsäkring since 2023.
Education and professional experience: Studies in the Business Economics program and the Civil Engineering program at Stockholm University and KTH. Previous experience from SPP in various management roles, including Chief Risk Officer, Head of Product & Operations, and CEO of SPP Livförsäkring AB. Before SPP, worked as an actuarial consultant at Towers Watson.
Own and closely related persons’ holding in the company: – shares and – warrants
Other ongoing assignments: –
Gabrielle Hagman
Country manager Sweden
Born 1981. Country Manager Sweden since 2024.
Education and professional experience: MSc in Business and Economics, Örebro University. Previous experience from several management positions at Danske Bank, including Head of Institutional Banking Sweden, Vice President at Blackrock. Gabrielle started her career at Swedbank and most recently held the role of Head of Funds at Nordnet.
Own and closely related persons’ holding in the company: 130 shares and 18,577 warrants.
Other ongoing assignments: Board member of Nordnet Fonder AB.
The Group Management team consists of eleven 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 April 29 2024. 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.
The following guidelines for remuneration to senior executives were adopted on the annual general meeting on 29 April 2021:
Guidelines for remuneration to senior executives
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 15 March 2023.
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.
Fixed salary
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 627,466 in 2023. For more information, see Note 13 in the Annual Report 2023.
Variable remuneration
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 percent 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 2023.
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.
Pension
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 2023.
Other benefits
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.
Notice
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.