Magnus Gagner Geeber will leave his employment as Head of LC&I in Swedbank. As a consequence, Björn Meltzer has been appointed acting Head of the Business Area. Recruitment of a new Head of LC&I has been initiated.

Michael Wolf, CEO of Swedbank, comments the change:

- The fact that Magnus Gagner Geeber leaves his employment has nothing to do with the fact that media lately has been speculating in conflict of interest when it comes to Magnus real estate investments. I have been very clear earlier and I still am, that all conflicts of interests have been identified and handled regarding these investments. Magnus and I agree that he will leave the bank, which are for other reasons. With consideration to the personal integrity of our employees I do not comment on the individual reasons when someone is leaving us.

- Magnus has been a huge asset for the bank during his many years in Swedbank. As Head of LC&I Magnus has transformed the Business Area to a position which is stronger today than ever, ends Michael Wolf.

Björn Meltzer will take his position immediately.