The Remuneration Committee is made up of four members who are all Independant Non-executive Directors. The Remuneration Committee is chaired by Libby Chambers and its other members are Adam Banks, Judith Eden and Morten Friis. The Remuneration Committee will normally meet at least four times a year.
The responsibilities of the Remuneration Committee are to consider and recommend to the Board the framework of the remuneration policy of the Company, to identify TSB’s Material Risk Takers in terms of the European Banking Authority’s Regulatory Technical Standards, and to manage, consider and approve the remuneration arrangements of the Chairman, the Chief Executive, each direct report to the Chief Executive, other senior executives and employees who are designated as Material Risk Takers under the PRA Remuneration Code, or any other employee determined by the Remuneration Committee from time to time in accordance with the requirements of TSB’s regulators.
The Remuneration Committee also reviews the Company’s remuneration structures for compliance with regulatory requirements and corporate governance guidance and monitors the reporting and disclosure of such arrangements.
Read Remuneration Committee Terms of Reference(opens in a new tab)