Swedbank AS has a new all-Estonian management board as of September 1, reflecting the move of the bank's former Latvian and Lithuanian subsidiaries to the direct control of Swedbank AB in Stockholm.
The members are chairman and CEO Priit Perens, who retains his position, the retail head Ulla Ilisson, corporate banking director Robert Kitt, CFO Heiki Raadik, private banking director Vaiko Tammeväli and the credit management division director Rait Pallo. The Latvian and Lithuanian board members were recalled.
The new management board previously operated as the managing division of Estonian operations.
Changes also took place in the supervisory board, which will now be headed by Birgitte Bonnesen; legal advisor Tiina Sepp was the only one from the previous supervisory board to keep her post.
The change in the bank's legal structure took effect on July 1. Swedbank's Estonian, Latvian and Lithuanian subsidiaries now enjoy equal status.