Swedbank Names Bo Bengtsson Head of Large Corporates and Institutions

By Dominic Chopping

STOCKHOLM--Swedbank AB said Wednesday that it has appointed Bo Bengtsson head of large corporates and institutions and as a member of the bank's group executive committee.

Mr. Bengtsson has held positions as chief executive of three savings banks and has served on different boards of directors, among them Swedbank, it said.

He will leave Swedbank's board of directors Wednesday and will take up his new position on March 1.

"Swedbank will grow the midsize corporate segment business which is an important cornerstone of reaching our ambition of 15% return on equity in 2025," Swedbank Chief Executive Jens Henriksson said.

"Bo Bengtsson has the right profile and background to deliver on that ambition" he said.

Pal Bergstrom, the current head of large corporates and institutions, said last month that he was leaving the bank after being appointed chief executive of Swedish state pension fund AP7.

Write to Dominic Chopping at [e-mail]

(END) Dow Jones Newswires

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