Annual Accounts and Report as at 30 June 2011 Draft - Mediobanca

GroupMediobanca identificationNo. ofpositions¹1) Directors with executive responsibilities Executive directors 52) Heads of main business lines, – Heads of Principal Investing and 9geographical areas and other Mid Corporate divisionsmanagement figures– CEO/General managers of mainGroup companies3) Most senior heads of internal controland staff units– Heads of international branches– Human resources– Compliance– Risk Management– Internal Auditing– Head of company reporting4) Risk-takers Trading desks (market and liquidityrisk) with variable pay €500,0005) Staff whose remuneration is equal in Staff with variable remunerationamount to that of the other risk-takers €500,000 not included in the6) Other relevant staff identified at thecompany’s discretion based on thecriterion of “proportionality” 2above categories– Trading desks (market and liquidityrisk) with variable pay between€200,000 and €500,000– Indirect impact on reputational risk– Impact on operating risk– Relevance and support to strategicbusiness1118770Total 120¹ No. of positions identified on 11 May 2011.² Criterion identified by the supervisory authority to ensure that the regulations are applied gradually based oncomplexity/type of company.c. Pay mixThe structure of the Mediobanca staff remuneration is based on variouscomponents with the objective of: balancing the fixed and variable componentsover time (pay mix), implementing a flexible approach to remuneration, andgearing compensation towards performance in view of the significance of rolewithin the company without encouraging risky and/or short-term behaviour. Eachyear the staff compensation package’s positioning is assessed compared to itsreference market, including with the assistance of outside advisors.496 –