Swedbank CEO under pressure to resign

Thursday, 28. March 2019 09:44

Birgitte Bonnesen, chief executive officer​ of embattled Swedbank AB, is facing increasing pressure to resign from her post as three of the bank's largest shareholders, Folksam, Alecta and AMF, acknowledged they would vote against her during an annual meeting on Thursday.

These allegations are so serious, AMF's CEO Johan Sidenmark said, that "even if so far it is only a question of suspicions and nobody should be regarded as guilty until she or he is convicted" it would be "irresponsible to vote in her favor," he underlined.

Yesterday, the Swedish Economic Crime Authority reported it started a raid at Swedbank offices, while hours later, the New York State Department of Financial Services initiated a probe into bank's alleged money laundering activities and its relation with other financial institutions involved in similar scandals.

Meanwhile, the trading of Swedbank's shares was halted.

Related Links: Swedbank AB
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