FöreningsSparbanken announces new group structure and management organisation

FöreningsSparbanken (FSB) has decided to form a new Group Executive Management. In addition to the President and CEO, Mr. Jan Lidén, Group Executive Management consists of seven members: Mr. Bengt-Erik Lindgren, the Deputy Head of Swedish Banking; Mr. Kjell Hedman, the Head of Customer Offerings and Products in Swedish Banking; Mr. Erkki Raasuke, the Head of Baltic Banking; Ms. Ingrida Bluma, the Head of Hansabank in Latvia; Ms. Annika Wijkström, the Head of Markets; Mr. Anders Ek, the Head of Strategic and International Banking; and Ms. Gith Bengtsson, representing the unions. “Today FöreningsSparbanken is quite a different organisation than it was six months ago,” said President and CEO Jan Lidén. “We have a much stronger international profile following the acquisition of all the shares of Hansabank, the leading Baltic bank.” Together, Hansabank and FSB now constitute a unified banking group with more than eight million customers in the Nordic and Baltic countries and more than 15,000 employees. “This is reflected in the organisation of the new Group Executive Management, which will concentrate on group issues and strategic business development. The changes in management organisation and group structure are based on the principle that all banking is local and that the operational responsibility rests where business is performed,” added Jan Lidén. Five Strategic Business Areas will report to Group Executive Management: Swedish Banking comprises local banking in Sweden, including Robur, but with the exception of merchant and investment banking. The Swedish Banking Management Group is headed by Jan Lidén. The role of Deputy Head of Swedish Banking will rotate annually between the six Regional Heads and the Head of Telephone and Internet Banking. Deputy Head of Swedish Banking from September 1 is Bengt-Erik Lindgren. Baltic Banking consists of Hansabank’s operations in Estonia, Latvia, Lithuania and Russia and is headed by Erkki Raasuke, CEO of Hansabank. Markets consists of Swedbank Markets in Sweden and the Group’s interest in First Securities in Norway. Markets is headed by the present Head of Swedbank Markets, Annika Wijkström. Shared Services consists of Swedish IT Development and IT Operations as well as Swedish support functions. The Business Area is headed by Fredrik Runnquist, presently Head of FSB Shared Services. Strategic & International Banking comprises the Group’s international businesses and interests (except those belonging to other Strategic Business Areas) and is responsible for strategic business development, mergers and acquisitions. The business area is headed by Anders Ek, presently Head of FSB’s International Banking Operations. The legal organisation remains as is, whereas the operational organisation follows the management structure above. The new structure and management organisation will be fully staffed and effective by September 1, 2005. For more information on the new group organisation, please visit http://www.fsb.se/organisation050901