Swedbank AB (publ)'s Latvian unit, Swedbank AS, named Gundega Genca head of compliance for Latvia and a member of the bank's management team, effective Jan. 6.

Genca will also become a board member at the Latvian bank, following approval by the European Central Bank. She has experience in compliance management through roles at Skandinaviska Enskilda Banken AB and Luminor Bank AS.

Genca's appointment comes amid a probe into money-laundering allegations against the Swedish parent in the Baltic region.