Managing Director and Board in place for the new FSB-Barclays credit card operation

Barclays Bank and FöreningsSparbanken have now agreed the composition of the Board of Directors and appointment of Managing Director for the planned joint holding company of the Nordic Card operations. Håkan Nyberg, at present Head of FöreningsSparbanken’s operations in northern Greater-Stockholm, whose previous positions include Head of FSB’s Internet Bank and Card Operations, will, as Managing Director, have the responsibility of starting and developing the joint card operation. After the necessary authorisations are obtained, the new venture, which will be called EnterCard, will commence operations after the summer. It will then take over FöreningsSparbanken’s operations within payment cards and credit cards, and ownership of the Norwegian credit card company, EnterCard AS, at present wholly owned by FSB, via the subsidiary company, EnterCard Sverige AB. The ambition is to develop operations to include Denmark and Finland within the next few years, and in the longer term, to include also the Eastern Baltic States. The Board of Directors of the new card company consists of representatives of the two owning banks, with Peter Herbert, Managing Director, Barclaycard International as Chairman. “This partnership is an important part of Barclays plan to build a global cards business and we have made a great start today with the appointment of a strong management team.” The Board will have the following composition: Chairman Peter Herbert, Managing Director BarclayCard International, Kjell Hedman, Group Executive Vice President and Head of Customer Offerings and Products FSB, Jonas Cedergren, Managing Director, Barclays Capital, Anders Ek, Group Executive Vice President FSB, Mikael Inglander, Group Executive Vice President FSB and Michael Lenora, Commercial Director BarclayCard. ”With access to the combination of Barclays’ considerable experience of international card operations, marketing and risk-management, and our strong office operations and leading Internet Bank, EnterCard has excellent prospects of giving existing and future customers good, competitive offerings. I expect the company to be able to establish itself as a leading Nordic actor within the near future”, says Kjell Hedman, Group FSB Executive Vice President and Head of Customer Offerings and Products. The new card company, EnterCard, will work with debit cards and credit cards, profiled cards and instalment payments. For further information Kjell Hedman, Group Executive Vice President, FöreningsSparbanken, tel +46 8 585 912 21, e-mail kjell.hedman@fsb.se Henrik Kolga, Head of Communications, FöreningsSparbanken, phone: +46 708 111 315. Ian Barber, Head of Public Relations, Barclaycard, phone: +44 1604 251229