Lars has broad and in-depth knowledge and experiences from the institutional business, having previously been Head of Swedbank Private Banking, and prior to this he has held a range of key roles within Merchant Banking in SEB including Head of Trading Capital Markets. Most recent, Lars comes from the role as Head of Group HR.

- The financial institution business is central for Swedbank to continue to grow as a commercial bank and we need to continue strengthening our relations with institutions, organisations and banks. Few know the institutional market as Lars Friberg and with the competencies, experiences and network that he has – I am convinced that he is the right person to lead Financial Institutions, says Ola Laurin, Head of Large Corporates & Institutions.

The recruitment of a new Head of Group HR will start immediately and Elisabet Wretlinge Zorn is Acting Head of Group HR. The changes will be effective as of 1 September 2016.

Swedbank AB (publ) is required to disclose this information pursuant to Regulation (EU) No 596/2014 on market abuse, the Swedish Financial Instruments Trading Act (1991:980) and/or the regulatory framework of Nasdaq Stockholm). This information was sent to be published on 22 August 2016 at 08.00 CET