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Lars Lundquist new CEO for BfG

Lars Lundquist began his banking career at the World Bank and has since held several leading assignments at banks and financial institutions. He has been senior vice president and a member of SEB management committee. Prior to moving to Germany, he was head of Asset Management at SEB.


Karl-Heinz Hülsmann, who has been BfG's CEO since 1997, will retire at the end of the year and become a member of the BfG Board. Hülsmann joined BfG in 1991and was a major contributor to strategic change and the approach to turn BfG into a private banking organization.

BfG is the fifth-largest privately owned bank in Germany, with approximately 1 million customers, SEK 112 billion in managed capital, 140,000 e-banking customers, and fund and share-trading on the Internet. BfG will change its name to SEB during the first quarter of 2001.