Reinhold Geijer leaves FöreningsSparbanken

Reinhold Geijer leaves FöreningsSparbanken Effective October 5 1999 Reinhold Geijer will leave his position as President and CEO of FöreningsSparbanken. This decision has been reached following a mutual agreement between FöreningsSparbanken and Reinhold Geijer. Mr Geijer will be retained by the bank, carrying out some special projects until the end of the year after which he will leave the bank altogether. Reinhold Geijer has been active in the bank for the past 15 years, among other things as President of Sparbanken Finans AB, President of AB Spintab, and for a limited period of time as Deputy President and head of Human Resource Development responsible for local bank co-ordination of Sparbanken Sverige. In April 1995 Reinhold Geijer was appointed President and CEO of Sparbanken Sverige and following the merger of Föreningsbanken and Sparbanken Sverige, he was appointed President and CEO of FöreningsSparbanken. Reinhold Geijer has been responsible for the successful integration of Föreningsbanken and Sparbanken Sverige into one bank. FöreningsSparbanken's board of directors and Reinhold Geijer have agreed that Mr Geijer leaving room for a successor is in line with the long-term development strategy, as well as in accordance with the best interests of FöreningsSparbanken. "Following his appointment as President and CEO in 1995, Reinhold Geijer has in a very commendable way and with the total confidence of the board of directors, carried through the introduction of the former Sparbanken Sverige on the Swedish stock exchange, as well as the extensive work following the merger of Föreningsbanken and Sparbanken Sverige. By combining these two banks into one, the potential has arisen for marketing and cost synergies, at the same time as the work involving personnel changes has been handled in a responsible manner. During 1999 Reinhold Geijer has also successfully led the introduction and implementation of FöreningsSparbanken's new market strategy and consumer concept" says Göran Collert, Executive Chairman of FöreningsSparbanken. "Now that the merger has been successfully carried through, FöreningsSparbanken enters a new phase of development and needs a successor who can take on the new and different challenges of the future." The recruitment of a new President and CEO has commenced. In the meantime FöreningsSparbanken has appointed Second Deputy Chairman (former President of Sydkraft) Göran Ahlström to act as President and CEO. Göran Ahlström will hold these appointments until FöreningsSparbanken's annual meeting of shareholders year 2000, when a new President and CEO will be appointed. For further information please contact Göran Collert at +46 8 5859 1004 ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/1999/10/05/19991005BIT00090/bit0001.doc http://www.bit.se/bitonline/1999/10/05/19991005BIT00090/bit0002.pdf