Employees’ Council
The Employees’ Council (Council) represents all NIBC employees based in the Netherlands and ensures that management objectives are aligned with those of employees.
The Employees’ Council enjoyed a relatively quiet year in 2009. Many of the changes it had approved the previous year were implemented - most significantly, NIBC’s client-focused two pillar strategy. The Council fully supports the strategy, which it believes gives the bank a clear focus and reduces its complexity.
The Council also endorses NIBC’s internal and external perception study, which took place in the autumn of 2009, and the projects that have resulted from this to embed the strategy further, enhance client focus and drive the business forward in 2010.
Despite continued uncertainty in the wider economy, the situation at NIBC was more stable in 2009 than in the previous year. The adoption of the sharpened strategy and the intensified focus on clients has resulted in a more motivated workforce. This gave the Council time to work on broader issues not specifically related to NIBC, such as the Dutch Banking Code, drawn up by the Dutch Banking Association to recommend ways to restore confidence in the Dutch banking sector.
Some of the Council’s main activities during 2009 were as follows:
- Playing a continued role in advising on changes to the governing bodies of NIBC. The Council advised positively on the appointment of two new members to the Managing Board – Rob ten Heggeler, Head of Merchant Banking, and Jeroen van Hessen, Head of Specialised Finance & Treasury. The Council was also involved in the appointment/reappointment of members of the Supervisory Board;
- Advising positively on organisational changes within Specialised Finance and Merchant Banking;
- Working with the Managing Board and the Human Resources department on the periodical update of the staff manual. This key document lays out NIBC’s procedures, regulations and remuneration policies and is applicable to all staff;
- Taking on a new role in relation to NIBC’s pension fund governance. The bank’s employee pension fund asked the Council to represent staff interests on any proposed changes to the fund and other pension issues. Although this falls outside its general scope of activity, the Council agreed to take this on as pensions are an important part of the benefit package for all NIBC staff, and particularly in light of the expected extension of the retirement age to 67 announced by the Dutch government in October 2009. The Council is committed to expanding its knowledge of the subject to ensure it can advise in a proper and well-informed way. These discussions will continue in 2010;
- Entering discussions with Human Resources to make the preventive health check currently on offer to employees more extensive, in the view that a healthy workforce makes good long-term business sense; and
- Evaluating the Banking Code during the summer. While NIBC already complies with many of the Code’s recommendations, the Council has nonetheless formed an opinion on how the bank can fine-tune its policies and has sent this input to the Managing Board for consideration.
The Employees’ Council meets formally six times a year with members of the Managing Board and informally every four weeks with the Managing Board and Human Resources. In this way, it can truly represent staff and be their voice. The Council discusses NIBC’s financial results with the CFO just after they are published, so it is kept abreast of financial developments. Twice a year, it also meets with members of the Supervisory Board for an open and constructive discussion.
The Council is always open to questions and suggestions from staff. To be truly representative of all staff, it seeks to spread its membership across all units and departments in the bank. It has 10 members at present.
The Council’s Vice-Chairman, Hans Nagtegaal, stepped down in 2009 after five years and Martijn Weinreich was unanimously elected to succeed him. The Council would like to thank Hans for his invaluable experience and contribution.
The Employees’ Council would also like to take this opportunity to thank the Managing and Supervisory Boards for their constructive cooperation and all NIBC employees who provided useful input last year.
Jack van Reisen
Chairman
Employees’ Council
Martijn Weinreich
Vice-Chairman
Employees’ Council
