Swedbank A

Board/Management Information • Dec 18, 2014

Changes in Executive Management of Swedbank

Changes in Executive Management of Swedbank

Swedbank appoints Birgitte Bonnesen, the present Head of Baltic Banking, as Head

of Swedish Banking. Priit Perens is appointed new Head of Baltic Banking. Both

will be members of the Group Executive Committee (GEC), which is further

extended with Viveka Strangert, Head of Group Compliance.

In order to strengthen the change management within the Swedish banking

operation that started a few years ago, a Head of Swedish Banking is appointed.

With the rapid changes occurring in the way the customers meet the bank comes

the need for strengthened co-ordination of customer offerings as well as

simplification of internal processes. All with the aim to better live up to

customers' expectations.

"I am very happy that Brigitte has accepted the new position. She has

successfully made a journey of this kind in Baltic Banking with continuous high

customer satisfaction, good results, and engaged employees", says Michael Wolf.

"That we are able to replace Birgitte with Priit Perens, an internal candidate

from one of our four home markets, is also very pleasing", he continues. "Priit

has several years of experience from different managerial positions within our

Estonian bank, most recently as CEO, and is very well suited to continue the

journey that he together with Brigitte has started", Michael Wolf continues.

"It requires both co-ordination and more efficient processes to maintain our

profitability, as well as continued solid risk management and capital

efficiency, Michael Wolf concludes.

All changes will take effect as of 1 January 2015 and GEC will then consist of

19 members.

For further information:

Michael Wolf, CEO Swedbank, phone: +46 8 585 927 66

Cecilia Hernqvist, Head of Group Communications, Swedbank, phone: +46 70 681 07

39

Swedbank promotes a sound and sustainable financial situation for the many

people, households and companies. Our vision is to contribute to development

"Beyond Financial Growth". 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 8 million retail customers and around 600

000 corporate customers and organisations with 318 branches in Sweden and 170

branches in the Baltic countries. The group is also present in other Nordic

countries, the US and China. As of 30 September 2014 the group had total assets

of SEK 2 078 billion. Read more at www.swedbank.com