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Swedbank to rebuild board at June 19 extraordinary meeting

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Swedbank to rebuild board at June 19 extraordinary meeting
FILE PHOTO: Swedbank signs are seen on a building in Vilnius, Lithuania March 30, 2019. REUTERS/Ints Kalnins/File Photo   -   Copyright  Ints Kalnins(Reuters)
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STOCKHOLM (Reuters) – Swedbank on Monday called an extraordinary general meeting on June 19 to vote on three new board members as it tries to rebuild its scandal-hit reputation.

The Swedish lender has endured a turbulent few months since it was linked to money laundering at Danske Bank, which has said that its Estonia branch was used to move 200 billion euros (£175 billion) of suspicious funds between 2007 and 2015.

With both its chairman and chief executive having left the bank, Swedbank’s proposed new board members include former prime minister Goran Persson as chairman.

The bank is being investigated by Swedish, Baltic and U.S. authorities. It admitted in April to failings in combating money laundering and said an internal investigation was reviewing current and historic customer relationships through its Baltic operations.

(Reporting by Anna Ringstrom; Editing by David Goodman)

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