Swedbank appoints new CEO

Published: November 10, 2008

On November 5, Swedbank appointed Michael Wolf to the position of CEO. Swedbank has subsidiaries in Latvia, Estonia and Lithuania, and is the largest bank in the Baltic states. It also has 190 branches in Ukraine.

Wolf was previously the acting head of Intrum Justitia. He will take up his new position at the latest in connection with the Annual General Meeting on April 24 2009.

Wolf says: “This is one of the finest jobs imaginable within the Swedish financial sector. I have a strong sense of belonging with Swedbank, who has had the courage to take the leap to build good relations with the new democracies and the new economies on the other side of the Baltic Sea in order to create the same strong position within the local society for the bank there as it has in Sweden.”

On November 10, Swedbank was accepted as one of the participating banks in the Swedish government's guarantee programme, which will allow it to refinance debt maturing in the next 12 months with loans backed by a government guarantee.