Swedbank Announces Strengthening of Group Executive Management


Press Release 11th of March, 2009

Swedbank Announces Strengthening of Group Executive Management

Swedbank today announces a number of changes to the Group Executive Management.
The changes will result in the introduction of a new function that strengthens
the bank's risk management and strategic capabilities. This will broaden and
deepen the Group's abilities to address the current challenging environment and
position Swedbank for future profitable growth. At the same time the changes
will ensure that Swedbank has a first class common operating model in the
domestic markets based on a common brand promise. 

Erkki Raasuke, formerly Head of Baltic Banking, has been appointed Group Chief
Financial Officer. Göran Bronner, formerly Chief Investment Officer at the
Swedish asset management firm Tanglin, has been appointed Chief Risk Officer.
Håkan Berg, formerly Head of Internal Audit, has been appointed Head of Baltic
Banking. Further, Thomas Backteman has been appointed as Head of Group Corporate
Affairs. The changes will take affect as of today.   

The financial services industry faces a number of significant challenges. The
deteriorating economic environment requires an increased focus on risk and
compliance issues. This highlights the importance of having first class
capabilities in these areas. Swedbank's main priorities are therefore to
strengthen the management of its assets and proactively manage the risks
associated with its balance sheet. 

“I am very pleased to today present these changes. This aims to achieve maximum
leverage of know how in the group, build on the experience and knowledge within
the bank's domestic markets, and enhance strategic capacity through the addition
of new functions in key areas. The management team will play an integral role in
meeting the challenges ahead to position Swedbank for the future”, says Michael
Wolf, CEO of Swedbank. 

Erkki Raasuke will take on the new CFO role which will include the
responsibilities for Group Finance, Tax, Treasury and Investor Relations. Erkki
Raasuke brings with him 16 years of experience from Baltic Banking, including 3
years as CFO. The appointment forms a solid platform ensuring that finance and
risk work cohesively across Swedbank's domestic markets.  Mikael Inglander will
continue to serve on GEM as Executive Vice President of the ‘One Group Change
Programme'. He will also be available to assist Erkki Raasuke and Göran Bronner
to ensure a smooth transition period. 

Håkan Berg will take over the position as Head of Baltic Banking from Erkki
Raasuke. He has had a 25 year long career at Swedbank including several
operational roles in the Swedish Banking division. Håkan Berg has successfully
managed challenging tasks during both economic upturns as well as recessions. He
most recently held the position as Head of Internal Audit. He will become a
member of the executive management board. Håkan Berg was responsible for asset
valuation of the credit portfolio for Sparbanken during the Swedish financial
crisis in the early 1990's.
The appointment of Göran Bronner in the new function as Group Chief Risk Officer
is part of Swedbank's strengthening of its approach to risk management to
further enhance risk as an integrated perspective on performance. He will also
become a member of the executive management board. Göran Bronner's
responsibilities will include Risk Control and Credit and Financial
Restructuring & Recovery, ensuring that risk management is embedded within the
strategy and performance management. He has a strong track-record from different
roles in the financial markets and will have an integral role in building a
strong culture of risk awareness going forward. Jan Lilja will continue to serve
as Head of Group Risk Control and Lars Lundquist will remain as Head of Group
Credit. They will both report to Göran Bronner. 

Group Corporate Affairs will be headed by Thomas Backteman. He will become a
member of the executive management board underlining that stakeholder relations
is a vital part for a retail bank such as Swedbank. As part of the
restructuring, Public Affairs will be part of the Corporate Affairs division
going forward.

The other members of the Executive Management team remain in their positions. 

Jonas Erikson has been appointed Head of Strategic Analysis and M&A, reporting
to the CEO. This is part of the objective to strengthen the in-house competence
and resources in addressing strategic issues. 

A recruitment process for finding a new Head of Internal Audit has been
initiated. The current Deputy Head of Internal Audit Erik Śtarkov will hold the
temporary position as Acting Head of Internal Audit. 


For further information, please contact:
Thomas Backteman, Executive Vice President Coporate Affairs,Swedbank, phone, +46
708 311 166
Anna Sundblad, Press Officer, Swedbank, +46 70 321 3995













Appendix: 
Members of the Executive Management Group:
Michael Wolf
Born 1963
CEO since 2009-03-01
In Swedbank as: President and CEO
Education: M.Sc. in Business Administration and Economic

Annika Wijkström
Born 1951
Employed since 1986
In Swedbank as: Executive Vice President
Head of International Banking
Education: B.A. in Language and Economics

Catrin Fransson
Born 1962
Employed since 1987
In Swedbank as: Executive Vice President, Head of Customer Offerings and
Products, Swedish Banking
Education: M.Sc. in Business Administration and Economics

Erkki Raasuke
Born 1971
Employed in Hansabank since 1994
In Swedbank as: CFO
Education: M.Sc. in Business Administration and Economics

Giedrius Dusevicius
Born 1971
Employed in Hansabank since 1996
In Swedbank as: Head of Business Development Division in Baltic Banking
Education: M.Sc. in Economics and degree in International Relations and
Political Sciences

Göran Bronner 
Born 1962
Employed since 2009
In Swedbank as: Group Chief Risk Officer 
Education: B.Sc. in Business Administration 

Håkan Berg
Born 1955
Employed since 1985
In Swedbank as: Executive Vice President, Head of Baltic Banking
Education: M.Sc. in Law

Kristina Janson
Born 1953
Employed since 1972
In Swedbank as: Bank employee, Board Member, Employee representative
Education: Upper Secondary School

Kjell Hedman
Born 1951
Employed since 1985
In Swedbank as: Executive Vice President, Head of Swedish Banking
Education: Business administration at upper secondary school level

Magnus Gagner Geeber
Born 1969
Employed since 1990
In Swedbank as: Head of Swedbank Markets
Education: Business administration at high school level 

Mikael Inglander
Born 1963
Employed since 1988
In Swedbank as: Executive Vice President, ‘One Group Change Programme'
Education: M.Sc. in Business Administration and Economics

Thomas Backteman 
Born 1964
Employed since 2009
In Swedbank as: Executive Vice President, Group Corporate Affairs 
Education: B.Sc. in Business Administration and Economics


For further information, please contact: 
Thomas Backteman, Executive Vice President Coporate Affairs, Swedbank, phone:
+46 708 311 166 
Anna Sundblad, Press Officer, Swedbank, phone: +46 70 321 3995


Swedbank's vision is to be the leading financial institution in the markets
where we are present. Swedbank has 9.4 million retail customers and 600,000
corporate customers with 419 branches in Sweden, 278 branches in the Baltic
countries and another 215 branches in Ukraine. The group is also present in
Copenhagen, Helsinki, Kaliningrad, Luxembourg, Moscow, New York, Oslo, Shanghai,
St. Petersburg and Tokyo. As of December 2008 the group had total assets of SEK
1,812 billion and approximately 21,000 employees. For more information about
Swedbank, please visit www.swedbank.com.

Attachments

03112275.pdf