Managing Director and Executive Committee

The Managing Director is appointed by the Board of Directors, which also establishes the salary, pension benefits, notice terms and other terms of employment for the Managing Director. The other members of the Group's Executive Committee responsible for business areas or with functional areas of responsibility (who together with the Managing Director form the Executive Committee) are appointed by the Managing Director based on job descriptions, competence profiles and other terms established by the Board of Directors, and having consulted the Chairman of the Board of Directors regarding persons in question. The staff executes its right to representation in administrative bodies through a staff representative in the Group's Executive Committee.

The Managing Director is responsible for the day-to-day management of the Aktia Group in accordance with instructions issued concerning administration of the Group's business issued by the Board of Directors. The Executive Committee acts as consultative body for the Managing Director in addition to which the Executive Committee members are authorised to manage respective business areas and functional areas of responsibility. Certain matters related to lending and the handling of the Group's financing, liquidity and market risks as well as administration of office activities are dealt with by committees appointed by the Executive Committee from within its ranks.