Johan Torgeby, 42, is currently co-head of the division Large Corporates and Financial Institutions, and has been a member of SEB's Group Executive Committee since 2014.

"In his capacity as co-head of Large Corporates & Financial Institutions he has taken important steps to transform and develop the business as a response to a rapidly changing regulatory and banking landscape," SEB chairman Marcus Wallenberg said in a statement.

The appointment is effective as of March 29. Annika Falkengren will continue in an advisory role until she leaves SEB in July 2017.

(Reporting by Johan Ahlander; editing by Niklas Pollard)