(OTC:SWDBY) Swedbank

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Swedbank Appoints Maris Mancinskis as New CEO for Latvia

(OTC:SWDBY) Swedbank AB

Swedbank Appoints Maris Mancinskis as New CEO for Latvia

Monday February 2, 3:29 am ET

STOCKHOLM, Sweden-Regulatory News:

Maris Mancinskis will become the new Head of Swedbank in Latvia from February 12, 2009. He succeeds Maris Avotins who resigns from his post and will continue his work for Swedbank Group.

Maris Mancinskis has over more than 14 years of experience from the financial sector both in Latvia and abroad. He has held several top management positions in the Baltic arm of Swedbank Group. He joined Hansabanka in 1999 to the area of financial markets. For a number of years he led the corporate banking division and was a member of Hansabanka´s management board. Mancinskis served as Head of Swedbank in Russia the past two years. He stepped down in 2008.

"We are very pleased to welcome Maris Mancinskis back to our Baltic team. His experience, knowledge and personal strengths are needed to carefully navigate us and our clients through the emerging business challenges. Taking the lead in the Latvian operations he is re-entering the organization and already has a good relationship with our clients", says Erkki Raasuke, Head of Baltic Banking at Swedbank.

"I am glad to return to Swedbank?s Latvia organization. I believe that we are well positioned and have the internal strengths to successfully manage the bank through difficult next few years and to become stronger and more efficient organization in this process", says Maris Mancinskis.

Maris Mancinskis will also become a member of the Management Board of Swedbank's Baltic banking division .

Swedbank?s vision is to be the leading financial institution in the markets where we are present. Swedbank has 9 million retail customers and 600,000 corporate customers with more than 459 branches in Sweden, 300 branches in the Baltic countries and another 190 branches in Ukraine. The group is also present in Copenhagen, Helsinki, Kaliningrad, Luxembourg, Marbella, Moscow, New York, Oslo, Shanghai, St. Petersburg and Tokyo. As of December 2007 the group had total assets of SEK 1,600 billion and approximately 22,000 employees. For more information about Swedbank, please visit www.swedbank.com.

This information was brought to you by Cision http://www.cisionwire.com

Contact:

Swedbank Erkki Raasuke, +372 888 14 72 Head of Baltic Banking or Kristi Künnapas, +372 562 15 672 Press Representative Baltic Banking or Anna Sundblad, +46 70 321 39 95 Press Manager Source: Swedbank

Profile for Swedbank AB

Swedbank AB, through its subsidiaries, provides a range of financial products and services for private individuals, corporate customers, businesses, municipalities, city councils, and organizations primarily in Sweden. It offers corporate and treasury management services; financing solutions, such as leasing and factoring, acquisition and project finance, export finance, and marine finance; professional advice to owners, boards, and senior managers in the areas, including initial public offerings, company acquisitions and divestments, raising capital, and other ownership related issues; and trade finance, custody, and asset management services, as well as life and pension plans. The company ... Detailed SWDBY Company Description...



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