Managing Board

The members of the Managing Board collectively manage the company and are responsible for its performance. The Chairman of the Managing Board leads the Board in its management of the company to achieve its performance goals and ambitions, and is the main point of liaison with the Supervisory Board. Mark Fisher has been Chairman of the Managing Board since November 2007.

See the Managing Board's resumés and photos.

Compensation policy

Two principles underlie the compensation policy. One is that the package must be competitive so that qualified and expert Managing Board members can be recruited from inside and outside the company and be retained.

The bank has to consider its position in Europe as well as comparing itself with its chosen peer group, so it targets a median or mid-market rate relative to other leading European financial institutions.

The second principle is that there must be a strong emphasis on actual performance against demanding targets in the short and longer term for all components, except base pay.

For details on the Managing Board's compensation, please refer to our 2006 Annual Report.

Security transaction regulations Managing Board

Members of the Managing Board have to comply with the ABN AMRO Code of Conduct on Private Portfolio Investment Transactions. In addition, they are limited to executing private securities transactions under a written discretionary management agreement. One of the requirements is that the Compliance Officer be notified of all securities transactions by submitting a statement of changes at least once a month.

Transactions in ABN AMRO securities are excluded from discretionary management. These transactions are only allowed during open periods and only following written consent granted by the Compliance Officer.

The limitation to the execution of private securities transactions covered by a written discretionary management agreement does not apply if members of the Managing Board execute private securities transactions in (i) (semi-)open-ended investment funds, (ii) government bonds issued by OECD countries and/or (iii) financial instruments linked to official indices, e.g. AEX options.