OREANDA-NEWS. December 29, 2014. Swedbank appoints Birgitte Bonnesen, the present Head of Baltic Banking, as Head of Swedish Banking. Priit Perens is appointed new Head of Baltic Banking. Perens’ tasks as Estonian CEO will be taken over by Robert Kitt, current head of Baltic Banking Corporate Competence Centre.

Both Bonnesen and Perens will be members of the Group Executive Committee (GEC). GEC will also be extended with Viveka Strangert, Head of Group Compliance.

In order to strengthen the change management within Swedbank’s Swedish banking operation which started a few years ago, a Head of Swedish Banking is appointed. With the rapid changes occurring in the way the customers meet the bank comes the need for strengthened co-ordination of customer offerings as well as simplification of internal processes. All with the aim to better live up to customers’ expectations.

 “I am very happy that Brigitte has accepted the new position. She has successfully made a journey of this kind in Baltic Banking with continuous high customer satisfaction, good results, and engaged employees”, says Michael Wolf.

“That we are able to replace Birgitte with Priit Perens, an internal candidate from one of our four home markets, is also very pleasing”, he continues. “Priit has several years of experience from different managerial positions within our Estonian bank, most recently as CEO, and is very well suited to continue the journey that he together with Brigitte has started”.

”It requires both co-ordination and more efficient processes to maintain our profitability, as well as continued solid risk management and capital efficiency, Michael Wolf concludes.

According to Priit Perens the new position is both very serious and thrilling challenge. ”Our good work in the Baltics has been recognized with the new position offered to Birgitte Bonnesen. Taking over her tasks here in the Baltics is a great honor and a big responsibility,” he said. “We must work hard to maintain current high levels of efficiency and profitability.

Business environment continues to be difficult – base intrest rates remain at low levels and the consequences of Russian-Ukrainian conflict for the Baltic economies are still unpredictable. At the same time several new legal regulations on both EU and local levels affect our revenue base as well as raise operating cost. Ongoing changes also affect our customers – banking is becoming more of a digital service, making it both more convenient and less costly.”

”I am very grateful for the trust,” Robert Kitt said. “As a manager Priit Perens has created an excellent team and brought Swedbank in Estonia through difficult times. By now the bank stands on solid ground. Our third quarter results were strong and we have once again achieved our usual levels of efficiency. It is clear rapid changes in banking sector are not over and if we want to be on the winning side, we must be flexible and agile. Our main direction and focus remain the same.”

All changes will take effect as of 1 January 2015 and GEC will consist of 19 members.