People Moves
Swedbank Makes Changes To The Top

Stockholm-headquartered Swedbank has proposed several changes to its board of directors, including the nomination of Anders Sundström as chair of the board.
Stockholm-headquartered Swedbank has proposed several
changes to its board of directors, including the nomination of
Anders Sundström as chair of the board.
The move also includes the nomination of Maj-Charlotte Wallin as
a board member and the re-election of board members Anders
Sundström, Ulrika Francke, Göran Hedman, Lars Idermark, Anders
Igel, Pia Rudengren, Karl-Henrik Sundström and Siv Svensson.
This follows the resignation of Charlotte Strömberg and Olav
Fjell, who are no longer available for re-election due to new
regulations limiting the number of board positions to nine in
total.
Wallin has been nominated following an extensive career
infinancial services, having most recently served as the chief
executive of the Swedish insurance firm, AFA Försäkring.
In addition, the bank said that it would consider raising the
remuneration for the board of directors seeing as it has been
unchanged since 2008, following an agreement between Swedbank and
the Swedish National Debt Office under a government guarantee
program. The agreement expires in 2014, and as such, Swedbank
proposed changes in order to attain market remuneration levels.
In recent news, Swedbank reported a drop in fourth-quarter net profit as a rising interest income was unable to fully compensate for higher costs. Assets under management, however, rose sharply as the firm logged its full year results for 2013. Read more on that story, here.