“Today I present a new management to develop Swedbank and strengthen confidence. As part of this, a number of people also leave the bank. I am also starting an evaluation of the culture in Swedbank ”, Swedbank's CEO Jens Henriksson writes in a press release.

Among other things, the head of Group Risk Helo Meigas and the current Head of Baltic Banking Charlotte Elsnitz will disappear.

Swedbank is struggling to regain confidence following the money laundering scandal in which SVT's Assignment Review and SVT Nyheter revealed that the bank's Baltic operations have been involved for almost a decade.

Billions are suspected to have been locked

The news that at least SEK 40 billion could have been locked between suspicious accounts caused the bank's share to plummet by almost 14 percent and for fund savers and shareholders tens of billions of SEK went up in smoke.

Following the disclosure, the Swedish Crime Agency conducted a raid at Swedbank's head office in Sundbyberg, which subsequently resulted in the preliminary investigation against the bank being extended with yet another criminal suspicion - serious fraud.

The CEO got fired

Swedbank confirmed in a press release that there had been, and still are, shortcomings in the bank's work on money laundering.

Following harsh criticism, the bank's then CEO Birgitte Bonnesen was fired in March. At the Annual General Meeting, the bank's chairman Lars Idermark motivated that a new leadership in the bank is needed to restore confidence.