Swedbank posted a strong result in very uncertain times.
We are happy to act as structuring advisor for K2A in this matter, a role that is fully aligned with our ambition to support companies committed to reducing its carbon footprint. We believe K2A has all the prerequisites for being relevant to equity investors with a focus on the environment and reduced carbon dioxide emissions.
Our main job as a bank is to do what we can to help our customers get through this difficult situation.
We see that we, together with other players, have an important role in helping our customers with knowledge and financial support. We have been doing this for 200 years and we will continue to do so.
As the Financial Supervisory Authorities of Sweden and Estonia now have concluded their investigations, the time is right for a restart of Group Legal. Eva de Falck has contributed greatly as Chief Legal Officer. I would like to thank Eva for her efforts and hard work.
This hackathon movement was born in three of our four home markets, so it is very natural for us to support it, and we encourage both our employees, customers and peers to register and join the event. By funding the organization of the Economy track, we not only dive into topics that will help our customers and industry through these unprecedented times, but the results will also support the local communities and the society as a whole.
I am very pleased to welcome Mattias Persson to Swedbank. He has substantial experience of areas that are essential for our analysis work and our clients – areas such as the financial markets, financial stability and sustainability. Mattias is also known for his ability to communicate complex issues to a broad audience, and he will lead our team in an outstanding way.
I am very much looking forward to leading one of the most competent macroeconomic teams in the Nordic-Baltic region – and to developing Swedbank’s analysis and above all supporting the bank’s clients during a very challenging time.
Clifford Chance’s report confirms the bank’s failure. In its anti-money laundering work, the bank has not measured up to the requirements that customers, owners and society are entitled to set. We now have the facts and are working hard to solve the problems.”
In light of the great uncertainty created by the spread of the Coronavirus and its impact, the Board has decided that the appropriate thing to do in these circumstances is to postpone the AGM to a later date. We will now focus on assisting our customers in very challenging times, and together overcome these difficulties in the best possible way.
I want to simplify and clarify, which will strengthen the management team and at the same time provide more decision-making power throughout the bank.
I look forward to work with Erik Ljungberg. He will give important contributions with his broad competencies from communications, marketing and sustainability in developing the bank.
I take the findings of the Financial Supervisory Authority seriously. There has been insufficient internal governance and control to address deficiencies related to suspected money laundering. These shortcomings have meant that there has been a risk that Swedbank and its subsidiaries have been used to launder money, which is unacceptable from the requirements and expectations, among others, customers, shareholders and supervisors, have on us.
The Board sees that the combination of her broad perspective, good insight into the work to prevent financial crime and extensive knowledge of processes related to internal governance and control, will be very valuable to Swedbank.
We want to be able to provide our customers a good range of digital and mobile services and Apple Pay is a sought-after service among our customers. We are pleased to now be able to broaden our mobile payment offer with yet another secure and smart alternative, which will provide lots of added value for our customers.
We are happy to act as structuring advisor for Swedavia in this matter, a role that is fully aligned with our ambition to support people and companies making sustainable choices. As a major bank in the Nordics and influential actor in society, we have a responsibility and a key role to play in accelerating the transition towards a sustainable economy.
I am proud and enthusiastic about being the CEO of Swedbank. We have an extensive activity plan that I am familiarising myself with and will develop, but above all and foremost I am looking forward – every day and together with my colleagues – to making banking easier for our customers.
We are very pleased to be ranked in top. It is a clear acknowledgment that our continuously work with sustainability and responsible investments, and our employees' commitment to these issues, really makes a difference.
We are continuing our journey towards becoming a world leader in sustainable value creation, and we are very happy and proud of all the knowledge and expertise we have within Swedbank Robur. Our latest recruitments give us further reinforcement in the form of several experienced and recognized talented employees with a deep understanding of the market and our customers' needs.
We are happy and proud to be among the hundred best companies in the world, and ranked as the top three of all companies in Sweden. This top ranking in Sweden confirms that what we do give results and that we are on the right track. Now we will continue our work with even more energy and determination, and to contribute to a positive development going forward.
The change in leadership will take Swedbank Estonia forward. Olavi Lepp and Anna Kõuts are both experienced banking leaders and have contributed strongly to the development of Swedbank.
We actively and continuously work to integrate sustainability throughout our whole business. The UN's principles for responsible banking are well aligned with the Bank's fundamental commitment to sustainability, where we want to create long-term value for all our stakeholders and contribute to a more sustainable society.
I would like to thank Ragnar for his valuable contribution to the Group Executive Committee and to Swedbank
Gabriel has made an important contribution to the bank throughout his employment, and now is a good time to change leadership in our communication organisation.
With Jens Henriksson, the bank will have a CEO who combines an experienced leadership, a strong communicative ability and a broad knowledge of the banking and financial industry. Jens Henriksson has the overall competence that is required to take on the current situation of the bank based on recent criticism, the rapid technological change and the competition that characterises the banking sector.
”I feel both humble and honoured, and I am also aware of the challenges ahead. My major task as President and CEO of Swedbank is to rebuild the trust for the bank, to further develop the bank’s sustainability profile and to continue the successful digitalisation journey. With the 200 years of tradition and history, the many competent employees and the loyal customers, we have all the prerequisites needed to further strengthen the bank’s position in the future.
Swedbank will continue to be a well-capitalised, low risk bank. The new financial targets will give us even better possibilities to continue to contribute positively to societies where we have operations.
Despite global uncertainty, we saw increased customer activity in all our home markets in the quarter.
We want to be able to offer our customers a good range of different digital and mobile services. Google Pay is a good example of a payment service that many of our customers want to make use of. This gives our customers yet another opportunity to a safe and mobile payment alternative.
Today’s decision is a consequence of the ongoing internal investigation. We are fully committed to the Estonian market and to all our employees, customers and other stakeholders. Estonia is one of four home markets of Swedbank. We will continue developing Estonian’s leading bank with society and customers in focus.
There is a high demand for innovative, flexible and smart payment solutions from both merchants and consumers. This contributes to both increased sales and higher customer satisfaction. Through the investment and cooperation with KACHING Retail, we can now continue to drive this development forward, so that mobile solutions for payments can become even more flexible and efficient.
Heidi Schauman is one of Finland’s most experienced economists and a highly influential figure in the public financial debate. I am very pleased to welcome Heidi to Swedbank in general and to the role of Chief Economist in Finland in particular.
I am truly looking forward to joining Swedbank. Swedbank is deeply engaged in society and strongly emphasises its values in corporate leadership – which is important to me on a personal level. On top of that, Swedbank’s analysis holds the highest standard. My ambition is to deliver analysis that generates value to our customers and actively contributes to spreading financial insight to a broader audience.
We see very great potential in our innovation partner Minna Technologies, and are very pleased to be part of their continued expansion and growth ahead.
Today I have spoken to the Swedbank’s Chairman of the Board and requested an EGM to be held before Midsummer. I am pleased to propose, on behalf of the Nomination Committee, a strong Board of Directors, which includes a number of new elections. Göran Persson is proposed as Chairman of the Board. Bo Magnusson is proposed to be appointed Vice Chairman of the Board. Additionally, we propose a new election of Josefin Lindstrand.
The Green Bond business is constantly evolving, which we fully embrace since we see the great potential of Green Bonds to leverage the transition to a low-carbon economy and enhance the contribution to the Sustainable Development Goals. We will continue to engage in close dialogue with our customers and help accelerate their ambitions in the transition to a more sustainable society.
It is a very honourable assignment and I am happy to be given the opportunity to work with this investigation. Labor law and competence development are central issues for the development of the Swedish economy.
The recruitment of Henrik and Marcus strengthens our global fund management in general and the Nordic fund management in particular. Their solid experience, expertise and investment philosophy will be important building blocks in Swedbank Robur's work in fulfilling the vision to become a world leader in sustainable value creation
Swedbank’s Nomination Committee has been working intensely and constructively. I called for our first meeting already on the day after our previous Annual General Meeting. We are happy to be able to propose former Prime Minister Göran Persson as Chairman of the Swedbank Board of Directors.Göran has an impressive track record, a broad international network and experience from financial business. In addition, Göran has a large societal involvement, which fits well into Swedbank’s culture. His experience from the Savings Banks, is an extra bonus
Our capital and liquidity position is strong, with a good buffer to the minimum requirements stated by the Swedish Financial Supervisory Authority.
By forming the AFC, we are creating a strong unit focusing on different aspects of financial crime. The unit will have the overall responsibility for the bank’s AML processes including framework and processes for KYC, risk classification, transaction monitoring and reporting to authorities. We are now gathering all relevant resources and competences in the bank to make sure that we secure robust capabilities and we will continue to invest in this area.
It will be very exciting to support and work to ensure that Swedbank Robur achieves its vision of becoming a world leader in sustainable value creation
Following recent strong debate about Swedbank and questions about the bank’s control of suspicious money laundering in the Baltics, I have concluded that the media attention is not compatible with my CEO role at Södra. Therefore, I have decided that the best alternative is to leave the position as Chair of Swedbank with immediate effect.
We have been informed about the EBM decision, and see that it contributes in providing answers to some of the current questions raised about the bank's business operations
After reviewing the FRA Update, the Board confirms its continued confidence in the CEO and her ability to lead and manage the Bank's work in the fight against money laundering.
Swedbank is committed to high ethical standards and we acknowledge that the risk of financial crime is a major challenge to society. We will continue to invest in our processes and technology and ensure that improvements are integrated into effective and sustainable day-to-day risk management practices.
As we have repeated many times, we act on different signals. Therefore, it was natural for us to act when the disclosures about Danske Bank came out on the market. That was the background to our analysis.
It feels inspiring to supplement our existing fund offering, and be able to offer clients a possibility to invest in small companies in emerging markets. This is a sector that previously has been quite difficult to access and invest in.
We take the report presented on Uppdrag granskning very seriously. Preventing and averting money laundering is one of the bank’s most important responsibilities. Therefore, I have given EY a broad mandate to independently and thoroughly investigate the information that was presented on the TV programme.