The Swedbank nomination committee propose to strengthen the Board of Directors

In view of the recent reporting on suspected money laundering, the Nomination Committee intends to work to further strengthen Swedbank's Board during the spring; hence in order to increase the confidence in the bank. As part of this, the Nomination Committee now proposes the new election of Kerstin Hermansson as a Board member, in addition to the previous proposal, which was published on February 12, 2019.

The proposal means that the number of Board members elected by the AGM in Swedbank will be increased from nine to ten persons.

Kerstin Hermansson will contribute to the work of the Board on its competence in matters relating to regulatory compliance and securities issues.

Kerstin Hermansson is the former CEO of the Swedish Securities Dealers Association (Svenska Fondhandlarföreningen), and has participated as an expert in several investigations commissioned by the Government regarding the regulation framework for the securities market. She has closely monitored the regulatory development in the EU over the past ten years, with a focus on the securities market. She has also been active in the European Banking Federation and ESMA's (European Securities and Market Authority) Securities and Markets Stakeholder Group, and is a Board member of SwedSec Licensing AB and the Seventh AP Fund. She holds a law degree from the Lund University.

This means that the Board of Directors will consist of Lars Idermark, Ulrika Francke, Siv Svensson, Bodil Eriksson, Peter Norman, Mats Granryd, Bo Johansson, Magnus Uggla, Anna Mossberg and Kerstin Hermansson. Lars Idermark is proposed as chairman.

Swedbank holds the Annual General Meeting on March 28, 2019 at Folkets Hus, Barnhusgatan 12-14, Stockholm.

Independent according to the Swedish Code of Corporate Governance Kerstin Hermansson is considered independent in relation to the bank, the bank management and the bank's major shareholders.

For further information:
Lennart Haglund, Chair of the Nomination Committee, tfn +46 70 557 51 29
Gabriel Francke Rodau, Head of Communication, Swedbank, tfn +46 70 144 89 66

Swedbank encourages a sound and sustainable financial situation for the many households and businesses. As a leading bank in the home markets of Sweden, Estonia, Latvia and Lithuania, Swedbank offers a wide range of financial services and products. Swedbank has over 7 million retail customers and around 600 000 corporate customers and organisations with 186 branches in Sweden and 125 branches in the Baltic countries. The group is also present in other Nordic countries, the US and China. As of 31 December, 2018 the group had total assets of SEK 2 246 billion.  Read more at www.swedbank.com

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Swedbank promotes a sound and sustainable financial situation for the many people, households and companies. As a leading bank in the home markets of Sweden, Estonia, Latvia and Lithuania, Swedbank offers a wide range of financial services and products. Swedbank has over 7 million retail customers and around 600 000 corporate customers and organisations with 172 branches in Sweden and 122 branches in the Baltic countries. The group is also present in other Nordic countries, the US and China. As of 30 June, 2019 the group had total assets of SEK 2 480 billion. Read more at www.swedbank.com

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