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11 Transactions with related companies and persons

11.1 Compensation paid to members of the Board of Directors and to members of the Group Executive Board

CHF

 

Fixed compensation paid in cash

 

Short-term variable compensation paid in cash

 

Short-term variable compensation paid in shares

 

Long-term variable compensation paid in shares

 

Total

Total 1.1.–31.12.2020

 

 

 

 

 

 

 

 

 

 

Compensation to members of the Board of Directors

 

652

 

 

197

 

 

849

Compensation to members of the Group Executive Board

 

1 319

 

1 546

 

1 216

 

152

 

4 233

Total 1.1.–31.12.2019

 

 

 

 

 

 

 

 

 

 

Compensation to members of the Board of Directors

 

756

 

 

206

 

 

962

Compensation to members of the Group Executive Board

 

1 502

 

1 095

 

1 008

 

101

 

3 706

The amounts listed for fixed and variable compensation also include any employer contributions to statutory or regulatory social security schemes.

The short-term variable compensation in shares of the Board of Directors consists of the following items:

The short-term variable compensation in shares of the Group Executive Board consists of the following items:

Members of the Group Executive Board partially participate in an employee stock ownership plan in connection with the asset management mandate of BB Biotech AG. Within the scope of these plans, some of the members of the Group Executive Board are entitled to receive a maximum number of shares in BB Biotech AG. The actual number of shares awarded depends on various conditions. Awarded shares are subject to a three-year vesting period beginning on the date of grant. In addition, the actual number of shares distributed will depend on the achievement of certain performance targets over the subsequent three fiscal years in connection with the respective investment mandates. The cost of this employee program is recognized as long-term variable compensation.

In the financial years 2020 and 2019, no compensation was paid to related parties of members of the Board of Directors and Group Executive Board, nor to former members of the Board of Directors.

For the months of January and February 2020 (2019: March to December), CHF 50,000 (2019: 250,000) was paid to Daniel Koller, the former CFO of the Company and a member of the Group Executive Group, as compensation for a one-year non-competition clause, in accordance with Art. 33 para. 4 of the Articles of Association. This compensation was agreed in a severance and release agreement. Daniel Koller left Bellevue Group as of February 28, 2019. In addition, CHF 15 161 (excl. 7.7% VAT) was paid to Daniel Koller for advisory services related to a Group project.

11.2 Transactions with related companies and persons

CHF 1 000

 

Key management personnel 1)

 

Major shareholders 2)

 

Associated companies

 

Other related companies and persons 3)

 

Total

2020

 

 

 

 

 

 

 

 

 

 

Due from customers

 

 

 

 

 

Due to customers

 

 

 

 

 

Interest income

 

10

 

18

 

 

 

28

Fee and commission income

 

4

 

315

 

 

 

319

Other operating expenses

 

 

 

 

93

 

93

 

 

 

 

 

 

 

 

 

 

 

2019

 

 

 

 

 

 

 

 

 

 

Due from customers

 

3 302

 

268

 

 

 

3 570

Due to customers

 

41

 

9 348

 

 

 

9 389

Interest income

 

36

 

10

 

 

 

46

Fee and commission income

 

10

 

672

 

 

 

682

Other operating expenses

 

 

 

 

110

 

110

1) Key management personnel: Board of Directors and Group Executive Board (excluding major shareholders).
2) Major shareholders: see Corporate Governance, section Group structure and shareholders.
3) Other closely related companies and persons: This includes all other natural persons and legal entities that have close personal, economic, legal or de facto ties with members of the Board of Directors or the Group Executive Board.

The account designations as of December 31, 2020 were not adjusted to the new designations, as all transactions relate to the discontinued operation.

Loans to related parties were generally Lombard loans secured by pledged assets (securities portfolios). As a result of the sale of the subsidiary Bank am Bellevue AG in the first half of 2020, there were no receivables (loans) from or liabilities to related parties as at December 31, 2020. Employees, members of the Board of Directors and the Executive Board benefited from preferential terms customary in the banking industry. Transactions for all other related parties were executed at terms equivalent to those available to third parties.

In 2020, there was a payment to a related company of one of the members of the Board of Directors for consultancy services in the amount of CHF 0.1 million (previous period: CHF 0.1 million).

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