Swedbank AB Announces Reorganization of Swedish Operations

Swedbank AB announced that it will restructure its Swedish operations as of January 1, 2013 in order to offer better customer experience, sharpen focus on developing digital banking services, and clarify branch offices' role and responsibilities. As of January 2013, Swedbank's digital banking services will become a separate business entity bearing its own customer responsibility. This step is a natural consequence of changed customer behavior and needs, as fewer customers use branch offices and instead want complete banking services available over digital channels. As a result of the reorganization, the Company's branch offices will gain more freedom to service customers with greater advisory needs. The six Swedish regions will have increased responsibilities as the national level of Swedish Retail will cease to exist. The reorganization will bring along changes in the Company’s top management structure. The six Regional Heads and the Group CIO will become Members of Group Executive Committee from January 1, 2013. In addition, Lars Friberg will assume the position as Head of Group Human Resources. Mr. Friberg succeeds Marie Hallander Larsson who has decided to take this opportunity to develop her career outside of the Company. New members to the Group Executive Committee will therefore be Stojko Gjurovski, Marie Halling, Lena Smeby-Udesen, Ulf Ejelov, Johan Smedman, Bjorn Elfstrand, Lars Friberg and Mats Engstrand.