New appointments at Skandia

SWEDEN


OSLO, Norway, August 30, 2000 (PRIMEZONE) -- Anders Soderstrom has been named President of Skandia's new development company, Skandia SIVA, which was formed in the spring to capitalize on and invest in new business ideas. The company aims to be a front-runner in the development of financial products and services.

Soderstrom will take up his new post on 1 September 2000 and at the same time will leave his position as Chief Information Officer of Skandia's Long-Term Savings unit. He succeeds Gordon Boronow, who will return to American Skandia as a member of the company's Operating Group. At the same time, Boronow will leave his position as a member of Skandia's Executive Management Board.

Skandia has also announced the following new appointments:

Anders Kvist, Chief Operating Officer of Skandia Asset Management (SAM), has been named President and CEO of the same company, effective 1 September.

Ulf Spang, Executive Vice President and CFO of Skandia, who has served as President and CEO of SAM to date, will now serve as Chairman of the Board of Skandia Asset Management.

Malcolm Campbell has been named Business Controller and Chief Actuary of the Skandia group.

Harry Vos will thus be relinquishing his duties as Business Controller and will focus entirely on his role as Head of Investor Relations for the Skandia group.

Gunnar Moberg has been named Marketing Director and Head of Marketing Communications for the Skandia group.



        

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