Corporate Governance Report
3. Nomination, Compensation & HR Committee
Composition as at 31 December 2011:

Mohamed Al Hameli (Chairman), Eissa Al Suwaidi, Jean-Paul Villain, Khalid Deemas Al Suwaidi
Secretary: Sonya Santolin
Statement from the Chairman of the Nomination, Compensation & HR Committee

During 2011, the Nomination, Compensation & HR Committee met five times and considered the following matters

  • selection and appointment of Directors
  • Directors’ remuneration and fees
  • CEO performance evaluation and remuneration
  • Bank’s remuneration policy for directors, senior management and staff
  • establishment of new variable pay schemes in line with international best practices
  • compensation and bonus recommendations
  • recruitment of senior management
  • selection and appointment of senior management as directors to Bank associates
  • succession planning for directors and senior management
  • staff performance evaluations
  • international corporate governance developments in remuneration

Remuneration and incentive rewards were designed to be performance target-based, to align with shareholders’ interests and best practices from a governance and risk perspective, and to ensure effective recruitment, retention and development of staff.

Mohamed Al Hameli
Chairman of the Board’s Nomination, Compensation & HR Committee