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SEB: Lars Thunell nominated to the World Bank - Annika Falkengren steps in as CEO on November 10

SEB's President and Chief Executive Officer, Lars H Thunell, has been nominated  Executive Vice President of the International Finance Corporation (IFC) and member of the Group Management of the World Bank. Accordingly, the transition to SEB's new President and CEO, Annika Falkengren, will be changed to take effect from November 10, 2005 instead of January 1, 2006.
"Lars H Thunell's nomination as Executive Vice President of the IFC is a true acknowledgement both for him as a renowned banker and for SEB. The Board of Directors has been willing to make Lars available at an earlier date. Lars will, until his retirement from SEB in August 2006, be available to the SEB Group as Senior Advisor," says Marcus Wallenberg, Chairman of the Board of Directors.
"The Board is delighted with the smooth hand-over process from Lars to Annika Falkengren and looks forward to working with her as CEO," Marcus Wallenberg continues.
The SEB Group is a North European financial group for corporate customers, institutions and private individuals with ten home markets in the Nordic and Baltic countries, Germany, Poland and the Ukraine. SEB has 680 branch offices and 5 million customers, of whom approximately 2 million use the internet for their banking transactions. On 30 June 2005, the Group's total assets amounted to SEK 1,800bn while its assets under management totalled SEK 1,012bn. The Group is represented in some 20 countries around the world and has a staff of about 20,000. Read more about SEB at www.sebgroup.com.