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STOCKHOLM Feb 8 Swedish bank SEB has
appointed its corporate banking chief Johan Torgeby as its new
CEO to replace Annika Falkengren, who announced her resignation
last month after 11 years in the role.
Johan Torgeby, 42, is currently co-head of the Large
Corporates and Financial Institutions division and a member of
the executive committee at SEB, the Nordic region's top
"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," Chairman Marcus Wallenberg
said in a statement on Wednesday.
Torgeby had been seen as a front-runner for the job
following Falkengren's decision to step down.
He joined SEB in 2009 after spending the previous nine years
in London working for investment bank Morgan Stanley with
leveraged buy-outs and debt coverage. Before that he spent three
years as a fixed income portfolio manager at Swedbank.
"Together the strong SEB team will deliver on our growth and
transformation agenda," Torgeby said in the statement.
SEB, which focuses on corporate customers in the Nordics,
Germany and UK and private customers in the Nordics and the
Baltics, is one year into its three-year business plan to
improve their technology.
The appointment is effective as of March 29. Annika
Falkengren will continue in an advisory role until she leaves
SEB in July 2017. Falkengren is quitting to join Swiss wealth
and asset manager firm Lombard Odier Group.
(Reporting by Johan Ahlander; editing by Niklas Pollard and