New Swedbank appointment
New Swedbank appointment highlights bank´s focus on individual old-age- security savings Swedbank has put Peter Nilsson in charge of its entire savings sector and made him a member of the bank´s executive management. Currently CEO of Swedbank´s subsidiary SparFond Livförsäkrings AB, Mr Nilsson will assume his new positions on 1 May 1999. Mr Nilsson´s appointment is part of the bank´s efforts to further enhance its product array and clarify that array to its customers in the rapidly growing savings market. Swedbank occupies a leading position in this market, with its broad array of fund, insurance, bond and stock savings products - in addition to traditional bank savings - enhanced by the nationwide counselling organisation it is able to offer in conjunction with the independent savings banks. Through this additional focus on its savings sector, the bank now intends to become an even more vigorous player in this market, with bank-wide uniformity of services. -The private savings sector is growing, and various savings products - especially individuals´ long-term, "old-age-security" savings - are becoming ever-increasing parts of Swedbank´s array of customer services. At the same time as more and more of the decision-making responsibility for long-term savings is being transferred to the individual citizen through changes in Sweden´s major pension and analogous systems, the savings market is also undergoing major changes through the rapidly increasing use of such new technologies as the Internet and sophisticated telephone services, says Group CEO Reinhold Geijer. -This development will make our branches and their personal counselling services even more important to, and more sought-after by, our customers. Private customers´ needs for help in making savings decisions and in assessing their overall financial situations - both short- and long-term - and the entire array of alternative savings arrangements we offer are becoming more and more important. We shall now be further enhancing and developing our activities throughout our savings sector, Mr Geijer concludes. Magnus Björnesjö will be proposed to succeed Peter Nilsson as CEO of SparFond Livförsäkrings AB. Magnus Björnesjö is at present Chief Administrative Officer of the insurance company. Further information Reinhold Geijer, CEO Swedbank, Phone: +46 8 585 921 70 Peter Nilsson, CEO SparFond Livförsäkrings AB, Phone: +46 8 657 2256 Einar Frydén, Information Manager, Swedbank, Phones: +46 8 585 916 30 or (cellular) +46 70-511 00 33 ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/1999/04/27/19990427BIT00370/bit0001.doc http://www.bit.se/bitonline/1999/04/27/19990427BIT00370/bit0002.pdf