STOCKHOLM Swedish bank SEB (SEBa.ST) has appointed Johan Torgeby as new chief executive to replace Annika Falkengren, who announced her resignation last month after 11 years at the helm.
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)