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.

Swedbank president and CEO Birgitte Bonnesen said: "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."

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