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No management bonuses at SEB
Skandinaviska Enskilda Banken (SEB)'s management team will forgo their bonuses for 2008, allowing the bank to enter the Swedish government's loan guarantee initiative.
Initially, the bank had lowered the compensation pool and removed short-term incentives, but this did not qualify it for entry to the guarantee programme, which intends to stimulate lending in Sweden. Now, outside pressure has led the management team to renounce its bonuses.
"I acknowledge the great
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