Corporate governance

Handelsbanken Wealth & Asset Management Limited is part of the Handelsbanken Group. Handelsbanken Wealth is a trading name of Handelsbanken Wealth & Asset Management Limited.

The UK Stewardship Code

The UK Stewardship Code (the "Code") is published by the Financial Reporting Council (FRC), the UK body responsible for promoting high quality corporate governance. The Code sets out good practice standards for institutional investors, such as investment managers, for their dealings with the UK-listed companies in which they invest.

The FRC recognises that not all parts of the Code are relevant to all institutional investors and that small institutions (such as Handelsbanken Wealth) may judge that some aspects are disproportionate to their business.

Please click here to view Handelsbanken Wealth’s Stewardship Disclosure

Shareholder Rights Directive II

The revised Shareholder Rights Directive (“SRD II”) requires asset managers to adopt an engagement policy on a “comply or explain” basis. The engagement policy should describe how an asset manager integrates shareholder engagement into its investment strategy when it or its funds under management are shareholders in companies that have a registered office in the EU and are listed on EU regulated markets.

Holding significant direct equity positions in publicly listed individual companies does not currently form part of Handelsbanken Wealth’s core investment strategy. There may be occasions when we do invest in shares of companies traded on a regulated market; however, the size of Handelsbanken Wealth’s shareholding is typically much lower than those held by large institutional investors and, therefore, we are not able to engage with investee companies to the extent envisaged by SRD II. On this basis, while Handelsbanken Wealth supports the aims of SRD II, we have determined that it is not necessary or appropriate to adopt an engagement policy for the purposes of SRD II. We shall review our investment strategy annually to determine whether our investment activities have changed to the extent that we should adopt an engagement policy under SRD II.

Whistleblowing policy

Please click here to view Handelsbanken Wealth’s policy.

MIFIDPRU Disclosures

It is a regulatory requirement that these documents are made available on an annual basis. They contain disclosure requirements regarding our risk management information and procedures.

Please click here to view Handelsbanken Wealth’s MIFIDPRU Disclosures.

Employee remuneration arrangements

Handelsbanken Wealth takes a long-term view of its staff’s employment. We reward our members of staff through salary and standard benefits such as pension contributions and medical insurance schemes. The main principle of our compensation policy and the majority of our employees are on fixed compensation.

Variable compensation is applied with great caution so to maintain Handelsbanken Wealth’s risk profile. As well as identifying, monitoring, analysing and reporting material risks of the compensation system, our compensation policy and processes are reviewed annually by the Head of Compliance & Risk. The review will consider adherence to the provisions of the FCA’s Remuneration Code.

Company structure

The Board of Handelsbanken Wealth is responsible for the high level supervision of the current and future regulated activities of the company.

The directors of the Board are:

Richard Charnock

Chair

Richard Charnock became Chair of the board of Handelsbanken Wealth & Asset Management in 2024 having previously been an Independent Director.

Richard brings his extensive experience of the wealth and savings sector to the role, including senior appointments at abrdn, HDFC Life, and Standard Life.

Richard is knowledgeable and passionate about the wealth and savings landscape and in 2022 was the recipient of the prestigious PAM lifetime achievement award for contribution to the private client industry. He is also active in the promotion of Diversity and Inclusion in financial services, and led the securities industry Ethics and Integrity agenda following the financial crisis.

Matt Handley

Chief Executive Officer

Matt was appointed Chief Executive Officer of Handelsbanken Wealth in October 2024, after previously joining Handelsbanken in the UK as Chief Risk Officer in May 2020. Matt has a wide breadth of experience, having started his career in the banking industry in 2001, and has worked across a variety of customer-facing, specialist and leadership roles in commercial and retail banking in the UK.

2020 - 2024 - Chief Risk Officer - Handelsbanken Plc
2015 - 2020 - Chief Risk Officer - M&S Bank
2001 - 2012 - Various roles within HSBC including Senior Relationship Manager, Head of Retail Credit Risk Strategy and Regional Head of Credit Risk.

Pete McCree

Executive Director and Chief Operating Officer

Pete joined in 2001 as Head of Settlement and Custody and was promoted to Chief Operating Officer in 2019. Pete is responsible for all actions and outcomes delivered by Business Support, Operations, IT Governance and Change Management in line with company strategy, risk management controls and our regulatory obligations. He is also Executive Director (SMF3) of the Handelsbanken Wealth & Asset Management Board, member of the Executive Committee and chair of the CASS Governance Committee.

1998 - 2001: Operations Manager at Dresdner RCM Global Investors UK Ltd where he was responsible for the settlement and trade processing team supporting global asset management
1987 - 1998: Assistant Manager at Kleinwort Benson Investment Management where he gained experience in global operations, custody support and settlements including equities, emerging markets and eurobonds supporting private and institutional clients
Pete also holds the Senior Management Function for client money and assets.

Chris Teasdale

Non-Executive Director

In 2021, Chris was appointed as Chief Branch Officer. Chris has worked at Handelsbanken since 2006, and has undertaken a number of roles within the Bank including that of Branch Manager, Area Manager, Chief Financial Officer, and Regional Head. Before moving to the banking sector, Chris actually started his working life in football. After that, he moved into industry and spent five years as Operations Director for an AIM-listed public company specialising in direct sales.

Chris was appointed as a Non-Executive Director of Handelsbanken Wealth & Asset Management in 2025.

John Ellacott

Independent Non-Executive Director

John worked at KPMG for 33 years, including 21 years as a Partner, before retiring in September 2017. At KPMG, John was primarily an auditor, but also provided advisory services covering strategy, regulatory transactions and listings both in the UK and internationally. John specialised in the financial sector and has worked with many of the UK’s leading banks and building societies. John was a Governor of Giggleswick School and has also served on the regional board of the Prince’s Trust.

Within our governance structure the day-to-day management of Handelsbanken Wealth is delegated to the Executive Committee. Please click here to view the members of the Executive Committee.

Important information