By Dominic Chopping 

STOCKHOLM--Swedbank AB on Saturday named Rolf Marquardt chief risk officer, and said he will take up the position no later than Oct. 1.

Mr. Marquardt was recently CFO of Handelsbanken AB but also served as chief risk officer at the bank with experience of compliance and risk control at group level.

Swedbank is currently facing regulatory investigations in the U.S. and Europe stemming from alleged lapses in anti-money-laundering compliance.

Swedbank has been working to strengthen its anti-money-laundering controls, after a report last year by Swedish broadcaster SVT said customers moved at least $4 billion in suspicious funds, much of it through Russia, through the bank's accounts.

"The recruitment of Rolf Marquardt helps to further strengthen a very important key function within the bank," Swedbank CEO Jens Henriksson said in a statement Saturday.

"He has many years of banking experience from several senior positions and also a good overview of the industry since time at the Swedish Bankers' Association."


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(END) Dow Jones Newswires

March 16, 2020 03:14 ET (07:14 GMT)

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