Swedbank Appoints Anna-Maria Matei as Head of Internal Audit

By Dominic Chopping

STOCKHOLM--Swedbank AB (SWED-A.SK) on Thursday appointed Anna-Maria Matei as its new head of internal audit to help further strengthen a key function within the bank as it continues a management reshuffle to regain trust amid a money-laundering probe.

Swedbank came under scrutiny in February after Swedish state broadcaster SVT reported that billions of dollars of illicit funds may have passed through the bank's Estonian branch. The then Chief Executive Birgitte Bonnesen was ousted in March from the bank over the scandal.

Ms. Matei was most recently at Svenska Handelsbanken AB (SHB-B.SK) where she has worked with internal audit at top management level for several years. She has over 18 years of experience in auditing, mostly in senior assignments within the financial sector.

"The board sees that the combination of her broad perspective, good insight into the work to prevent financial crime and extensive knowledge of processes related to internal governance and control, will be very valuable to Swedbank," said Bo Magnusson, vice chairman of the board and chairman of the bank's audit committee.

In her new role, Ms. Matei will report directly to Bo Magnusson.

Ms. Matei will begin her new role at Swedbank as of April 1, 2020.

Write to Dominic Chopping at dominic.chopping@wsj.com

(END) Dow Jones Newswires

December 19, 2019 07:19 ET (12:19 GMT)

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