Swedbank announces management changes and a new digital group function

Regulatory News:

To secure delivery on strategic objectives and to increase customer and employee satisfaction, Swedbank (STO:SWEDA)(OSE: SWED)(LSE:SWK) today announces changes to the Group Executive Committee as well as the formation of a new group function for Digital Banking. In addition, two new product areas; Group Savings and Group Lending & Payments, will replace Group Products. By making these changes, Swedbank strengthens its effort to meet changed customer demands and behaviour.

The new Group Function Digital Banking will be developed by Lotta Lovén and Girts Berzinš together with Birgitte Bonnesen. Digital Banking will be responsible for digital sales support, development and innovation. The search for a permanent Head of Digital Banking has been initiated.

The new Group Executive Committee will consist of:

• Birgitte Bonnesen, President and Chief Executive Officer
• Girts Berzinš, acting co-Head of Digital Banking
• Elisabeth Beskow, co-Head of LC&I
• Mikael Björknert, Chief Strategy Officer and Head of CEO Office
• Lars-Erik Danielsson, Chief Credit Officer (reporting to the Chief Risk Officer)
• Anders Ekedahl, Head of Group IT
• Björn Elfstrand, Head of Group Savings
• Lars Friberg, Head of Group HR
• Cecilia Hernqvist, Chief Compliance Officer
• Anders Karlsson, Chief Financial Officer
• Leif Karlsson, Head of Group Lending & Payments
• Ola Laurin, co-Head of LC&I
• Lotta Lovén, acting co-Head of Digital Banking
• Helo Meigas, Chief Risk Officer
• Priit Perens, Head of Baltic Banking
• Christer Trägårdh, Head of Swedish Banking

To support the CEO in aligning customer and employee perception of Swedbank and to clarify our strategy and way forward, a new CEO Office will be responsible for the group staff functions Communications (incl. Brand), Public Affairs (incl. Sustainability) , SAMA (incl. Strategy) and Legal. Human Resources will be part of the CEO Office management group.

"Today’s announcement is a natural next step for Swedbank in our effort to meet our customers’ demands. The changes will secure the delivery on our business strategy and our financial goals, while building a solid platform for increased customer satisfaction. While partly centralising the organisation, we will keep a strong local presence and mandates to make sure that we stay close to our customers”, says Birgitte Bonnesen, President and CEO of Swedbank.

"The members of the Group Executive Committee all have extensive experience and a deep understanding for Swedbank's organisation and values. These are important factors for execution and co-operation”, continues Birgitte Bonnesen.

All new appointments will be effective on 1 June, except for the CFO and CRO functions which will be effective on 10 June.

Swedbank AB (publ) shall make this information public in accordance to Securities Market Act (2007:528), Act on Trading in Financial Instruments (1991:980) and/or Nasdaq Stockholm’s issuer rules. The information was submitted for publication on 30 May 2016, at 07.00 CET.

Swedbank promotes a sound and sustainable financial situation for the many people, households and companies. Our vision is to contribute to development "Beyond Financial Growth”. As a leading bank in the home markets of Sweden, Estonia, Latvia and Lithuania, Swedbank offers a wide range of financial services and products. Swedbank has over 7 million retail customers and around 600 000 corporate customers and organisations with 273 branches in Sweden and 143 branches in the Baltic countries. The group is also present in other Nordic countries, the US and China.

As of 31 March 2016 the group had total assets of SEK 2 404 billion. Read more at www.swedbank.com

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