Swedbank takes the next step – changes in management

Wednesday, 10 August 2011
The next step in Swedbank’s development involves a number of top management changes. G�ran Bronner, Swedbank’s current Chief Risk Officer, will become the new Chief Financial Officer. H�kan Berg, the current Head of Baltic Banking will be the new Chief Risk Officer. The new Head of Baltic Banking will be Birgitte Bonnesen at present Head of Internal Audit. All changes will take place with immediate effect.

”Since 2009, Swedbank has focused on improving governance, decreasing risks, strengthening capitalisation, extending funding, and increasing liquidity reserves. We have worked to increase decentralisation as well as individual employees’ decision-making powers by establishing clear routines and structures. We have come a long way in two and a half years,” said Michael Wolf, President and CEO of Swedbank.

“We are now entering a phase where we will increasingly focus on improvements regarding effectiveness, processes, and quality. With G�ran Bronner as the new CFO, I will have a CFO with proven capacity to forcefully implement these changes,” continued Michael Wolf.

G�ran Bronner has been the CRO of Swedbank since March 2009. Previously, in 2000-2009, he was partner and founder of the Tanglin fund. Up until 2000, he held various management positions within SEB, including responsibility for its operations in Asia in 1997 to 2000.

The current Head of Baltic Banking, H�kan Berg, will be the new Chief Risk Officer.
“With H�kan Berg as the new CRO, we have a person with a long and extensive track record from various operations within the bank. One obvious strength with having H�kan as the new CRO is his experience of handling the bank’s problem loans in Sweden during the 1990s bank crisis as well as his active role in mitigating the financial crisis in the Baltic countries,” Michael Wolf went on to say.

H�kan Berg has been employed by Swedbank since 1985. Apart from being the Head of Baltic Banking since 2009, his positions included the following: Head of Internal Audit, Head of retail business development in F�renings Sparbanken, regional manager in Stockholm and branch manager.

Swedbank’s present Head of Internal Audit, Birgitte Bonnesen, will become the new Head of Baltic Banking.
”Birgitte Bonnesen has a long, international banking track record in Swedbank. As Head of Internal Audit she also has extensive knowledge of all areas of the bank. An internationally experienced leader with a solid Group track record, Birgitte Bonnesen will forcefully continue developing the Baltic Banking business area as well as capitalising on the gains stemming from integration in the bank’s four home markets,” concluded Michael Wolf.
Birgitte Bonnesen succeeded H�kan Berg as Head of Internal Audit in 2009. She has been employed in the bank since 1987. In 2004-2009, she held a significant number of managerial positions within the former Swedbank Markets, including Head of CRM (consisting of “Financial Institutions”, ”Cash and Clearing”, ”Trade Finance”, and ”Custody”). In 1997-2001, she was head of the bank’s contacts with other financial institutions in North America, Europe, the Baltic countries and the Nordic countries. Birgitte Bonnesen will become a member of the Group Executive Committee.
Based on a press release from the Banks


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