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“Somebody has to live somewhere”: Bjorn Wahlroos
Friday, 04 November 2011
Between Wednesday and yesterday we reported on two crucial issues relating to the how the banks don’t get it and that attitude continues with our report again today. After Nordea, the giant Nordic bank reported that it was firing more that 2000 workers from its various branches in 4 countries, so as to cope with tightening economic situation, then the bank again turned around and starting upgrading a luxury apartment for its  CEO in Stokholm.

Then the news emerged from the Swedish news paper Svenska Dagbladet, Swedish television also followed yesterday that the CEO, even though will be living in luxury, has also been granted a gold plated pension plan. Then the chairman Bjorn Wahlroos appeared on Swedish television yesterday and spoke. In a fashion which some people consider to be a bluff and this type of arrogance perceived to be carried around by bankers who have not gotten it that their actions cause the crisis we are all in, he said that Nordea has done nothing wrong to provide these facilities to the CEO.

About Christian Clausen, CEO of Nordea’s luxury apartment which the bank, Nordea is providing and gilt-edged pension plan that has been widely reported, there is nothing in them that stirs Nordea’s chairman Bjorn Wahlroos. He even said that he would on the contrary gladly raise Clausen's salary.
“People need to actually live” he said to Swedish television yesterday. 250 square feet may sound much for an editor, but Christian actually leads Europe's fifth largest bank.”

Nordea chairman, Bjorn Wahlroos therefore shrug off the Swedish criticism of CEO Christian Clausen's luxury apartment and huge pension plan.

Commenting on the Swedish television, Wahlroos said that Clausen's apartment in Östermalm in Stockholm will cost around Skr500,000 a year for Nordea. It is cheaper for the bank than to rent an apartment.

“It may be hard for you Swedes to remember that Clausen actually is not Swedish, he has a home in Copenhagen. People need to actually live. 250 square feet may sound much of an editor, but Clausen actually leads Europe's fifth largest bank,” said Wahlroos.

He does not think CEO should have to pay for their accommodation with their own money. “I would like to raise Christian Clausen's salary, so he could buy more apartments in Stockholm, if he so desires,” he adds

News that the bank which is laying off thousands (2,000) of workers accords the board in four countries is spending huge on luxury apartment for its CEO emerged on Thursday from the Swedish newspaper Svenska Dagbladet. Then Swedish television added that that Clausen's pension agreement guarantees is approximately Skr100 million (€11 million), when he retired from his post.

It remains to be seen how the staff and customers will assess and draw conclusion of the behaviours of Nordea and its chairman Wahlroos.
For Wahlroos he puts the behaviours of the customer to how the press and journalist will present it:  “it depends a lot on how you journalists want to produce it. If you are trying to make a scandal of what the chief executive receives as pension, as a percentage of his current salary, which is actually a bit lower than Swedes in general have - then you can of course bring a storm”.
By Scancomark.se Team

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