We have adopted a remuneration system that can attract, retain and motivate highly qualified resources, in compliance with the principles of financial sustainability and sound and prudent risk management.
In order to attain challenging targets and continue to be a competitive player in the financial market, we must avail ourselves of highly qualified and motivated personnel who act in accordance with the ethical principles for sustainable business.
Adequately remunerating skills is one of the main levers for attracting and retaining top talent.
The remuneration and incentive system of Banca Ifis is defined in accordance with the company’s objectives and values, the long-term strategies and the Group’s policies of prudent risk management, with the aim to:
The corporate bodies that prepare and approve the remuneration and incentive policies are:
The remuneration policies were updated by the Board of Statutory Auditors on 19 December 2019, after appointment of the new Board of Directors. The review was with particular regard to:
The remuneration policies for 2020 were approved by the Shareholders’ Meeting on 19 April 2020. The changes introduced for the 2020 financial year (see below) include identification of the indicator considered to determine the variable remuneration of the CEO. The remuneration of the General Manager has also been aligned with the most challenging targets envisaged for the CEO.
The parameters for access to the variable component of remuneration for all personnel have also been made stricter.
For further information please refer to the Executive summary di Governance.
The remuneration system is based on three elements:
The variable component is 40% with a deferred payment, with an up front payment of 60%, in particular:
The portion of variable component of remuneration to be deferred is 40%, and is paid in this manner:
The variable component of remuneration not subject to deferral (the remaining 60% – up-front) will instead be paid:
For further information please refer to the Executive summary di Governance.
The remuneration system is based on three elements:
For the shareholdings of the members of the administration and control bodies, the general managers and other executives with strategic responsibilities, please refer to the Remuneration Report 2020.
Download the most recent Information on plans for compensation based on financial instruments.