Swedbank Taps New Leader for Baltic Market Expansion

Swedbank Taps New Leader for Baltic Market Expansion

(IN BRIEF) Swedbank has officially named Olof Sundblad as the permanent Head of Baltic Banking, elevating him from his acting role since October 2024. In this new capacity, he will remain a member of the Group Executive Committee. Sundblad’s appointment is backed by his strong academic credentials, including a Master of Science in Economics and Business Administration from the Stockholm School of Economics, and his extensive industry experience, notably his former position as CFO of Baltic Banking. The press release underscores the strategic importance of the Baltic region, citing abundant opportunities in the growing economies of Estonia, Latvia, and Lithuania, where the business area accounts for a significant portion of Swedbank’s operating profit. This move reinforces the bank’s commitment to enhancing its market presence and delivering increased customer benefits.

(PRESS RELEASE) STOCKHOLM, 1-Apr-2025 — /EuropaWire/ — Swedbank today announced that Olof Sundblad has been permanently appointed as Head of Baltic Banking. Having served as the Acting Head since October 2024, Sundblad will now continue his role as part of the Group Executive Committee. Jens Henriksson, President and CEO of Swedbank, highlighted Sundblad’s strategic mindset and extensive leadership experience in the region, stating that his background provides a solid foundation for driving further success in the operations.

Sundblad, who earned a Master of Science in Economics and Business Administration from the Stockholm School of Economics, has an impressive track record in the financial sector. Prior to this appointment, he served as CFO of Baltic Banking and has held several significant roles within the industry since 2006. Reflecting on his new responsibility, Sundblad remarked, “In the growing economies of Estonia, Latvia, and Lithuania, the opportunities for Swedbank are plentiful. I look forward to continuing building on our strong presence in the Baltic markets by focusing on customer benefit.”

Baltic Banking, one of Swedbank’s four key business areas, serves approximately 3.5 million private customers and 300,000 corporate clients across Estonia, Latvia, and Lithuania, and contributes nearly one third of the bank’s total operating profit. For further details, including Sundblad’s full CV and additional press photos, please visit swedbank.com.

Media Contact:

Hannes Mård
Head of Press
+46 73 057 41 95
hannes.mard@swedbank.se

SOURCE: Swedbank Group