DE

EN

Group








Local websites


Icon Gruppe Folgeseite










Private Clients




Intermediaries




Fund Solutions




Careers




Media




Investors




About us







Corporate Governance




Corporate Structure



Capital Structure



Participation rights



Compenstaions



Auditors




Organization Group




Policy & Strategy




Legal & Compliance




Risk Management




Engagement




History




VP Bank Insight






Compenstaions




Compensation, shareholdings and loans


Content and method of determining the compensation and the share ownership programs



In its function as the Nomination & Compensation Committee, the Committee of the Board of Directors proposes to the Board the principles and rules for the compensation of the Chairman, Directors and GEM, as well as the amount of remunerations paid to members of both of those corporate bodies.

The Board of Directors approves the aforementioned principles and rules and determines the amount of total compensation Board and GEM receive.


Board of Directors



Members of the Board of Directors receive compensation for the duties and responsibilities conferred on them by law and pursuant to Art. 20 of the Articles of Incorporation. This is determined annually by the Board of Directors at the proposal of the Committee of the Board of Directors in its capacity as Compensation Committee.

It is distributed to the members of the Board of Directors on a graduated basis according to their function in the Board of Directors and their function in its committees or in other corporate bodies (e.g. the pension fund). Three-quarters of this compensation is paid in cash, and one-quarter in the form of freely disposable VP Bank bearer shares, the number of which is determined by the current market price at the time of grant.

At VP Bank, there are no agreements pertaining to “golden parachutes” for members of the Board of Directors.


Group Executive Management



Following the decision of the Board of Directors taken on March 27, 2008, VP Bank introduced a new, long-term and value-oriented compensation model applicable to the GEM and second-level management members of VP Bank.

Under this model, the compensation of these members of senior management consists of the following:




Icon Bullet


A fixed base salary that is contractually agreed between the Committee of the Board of Directors (in its function as Nomination & Compensation Committee) and the members of Group Executive Management. In addition to the base salary, VP Bank will pay proportionate contributions to cadre insurance and the pension fund.




Icon Bullet


A variable performance-based component (short-term Incentive, STI), which is dependent on the annual profit of VP Bank Group as well as individual achievement of goals and is paid out annually.




Icon Bullet


A variable long-term management share ownership scheme (long-term Incentive, LTI) with grants in the form of VP Bank bearer shares. The number of shares granted after a term of five years is directly dependent on VP Bank Group’s economic profit during the financial years from 2008 through and including 2012. Thus more or fewer shares will be granted in reflection of the Group’s financial success. The underlying factor ranges from a minimum of 0.5 and a maximum of 2.5. The monetary value of this compensation in kind, which will be distributed at the end of 2012 or as it were in 2013, is also dependent on the trend in the price of VP Bank’s bearer shares. The shares required to cover the LTI stock ownership plan will come either from the holdings of VP Bank Group or by means of open-market purchases of the shares.



At VP Bank, there are no agreements on severance compensation for acting members of Group Executive Management.

In connection with the departure of Adolf E. Real from the GEM and in reflection of his 26 years of activity on behalf of VP Bank, a termination grant was agreed in the amount of CHF 975,000.


Transparency of compensation, shareholdings and loans pertaining to issuers domiciled abroad



As a SIX-listed issuer domiciled abroad, VP Bank discloses information on compensations, shareholdings and loans within the context of Section 5.2 of the Commentary on the Corporate Governance Directive dated September 20, 2007, i.e. corresponding to Art. 663bbis of the Swiss Code of Obligations.




more information







Icon Download


Remuneration paid to members of governing bodies (PDF, 64 KB)






Contact




Verwaltungs- und Privat-Bank Aktiengesellschaft

Aeulestrasse 6

9490 Vaduz

Liechtenstein


Tel +423 235 66 55
Fax +423 235 65 00

Icon Link Blue


Contact form
Icon Link Blue


Send e-mail
Icon Link Blue


All locations

Design Standorte Nebenspalte Flash Alternative

Peter Zweifel


Security Officer



Icon Link Blue


Select guide

Icon Link Blue

Virtual tour


Disclaimer

Imprint





Please read the legal information (in particular the limitation of liability and access and the risk considerations) before proceeding.
© Copyright 2005, Verwaltungs- und Privat-Bank AG - all rights reserved.

VAT.-Nr. 51.263 – Reg.-Nr. FL-0001.007.080 - Clearing (SIC) 8805 - SWIFT: VPBVLI2X - Postkonto Nr. 90-8291-5




PDF Factsheet

Seite versenden

Seite drucken