Swedbank Reveals Shifts in Baltic Banking Sector
Sep 22, 2008
By Gustavs Plato
During the course of the last week, Swedbank (established in 1820 and the 6th largest Nordic Bank) has issued a number of press releases including changes in staff management, their exposure to the world financial crisis, and a change in their banking name in the three Baltic countries.
On 17-09-2008 Swedbank announces latest change:
Changes in Swedbank's Staff Management
Jan Lilja, who presently is Head of Group Treasury of Swedbank, has been appointed new Chief Risk Officer of Swedbank.
New Head of Group Treasury will be Mikael Edler, who presently is responsible for Swedbank´s retail banking in the northeast of Stockholm. Mikael Edler has been working in Swedbank since 1996 and has a wide experience from the capital markets in both Sweden and New York. He has been working as Head of Foreign Exchange at Swedbank Markets and also Head of Swedbank Private Banking.
The changes will come into effect by November 1, 2008.

On 16-09-2008 Reuters reported the following:
STOCKHOLM, Sept 16 (Reuters) - Sweden's Swedbank (SWEDa.ST: Quote, Profile, Research, Stock Buzz) said on Tuesday it had an unsecured exposure of 202 million Swedish crowns ($29.70 million) to Lehman Brothers (LEH.N: Quote, Profile, Research, Stock Buzz) and secured exposure of $1.35 billion.
Swedbank said it was too early to say if it needed to make provisions or writeoffs regarding the unsecured exposure, made up of derivatives and bonds, after Lehman filed for bankruptcy protection.
Swedbank said the secured exposure consisted of a pool of 70 real estate debtors. The bank said it did not believe any provisions would be necessary.
The collateral will only fall below $1.35 billion if the value of the real estate were to fall 30 percent below its current market level, Swedbank said.
On 15-09-2008 Swedbank (formerly Hansabank) issues the following press release:
Today Hansabank will start the process of changing name to Swedbank in the three Baltic countries. The re-branding is an important and natural step of the integration of Swedbank Group.
"The change of name into Swedbank is a proof that we are here on a long term basis. The core of the Swedbank brand is service leadership, and the main aim is to provide the best service on the markets where we are present, says Jan Lidén, President and CEO of Swedbank.
The first step of the re-branding is the visual brand change in approximately 30 branches, among them the main offices in Riga, Tallinn and Vilnius. The legal name of the bank will change in spring 2009 and the process of changing brand will be finished during the autumn 2009.
By the end of next year the Swedbank Group will operate under one brand in all markets. The re-branding started in Sweden in 2006, continued in Russia in 2007 and in Ukraine in 2008.
For further information:
Tobias Wagner, Head of Group Communications, Swedbank, phone: +46 70 259 12 65Anna Sundblad, Press Manager, Swedbank, phone: +46 70 321 39 95

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