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Swedbank's chief risk officer leaves amid organizational shakeup

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Swedbank's chief risk officer leaves amid organizational shakeup

Helo Meigas stepped down as chief risk officer of Swedbank AB (publ) amid an organizational reshuffle aimed at simplifying its structure.

Meigas has been in the role since June 2016. Gunilla Domeij Hallros will serve as acting chief risk officer while the lender searches for Meigas' successor.

Additionally, Charlotte Elsnitz resigned as head of Baltic banking, to be replaced by Jon Lidefelt in an acting capacity.

The shakeup will reduce the number of members of group management to 14 from 17.

Under the restructuring, Swedbank will combine its group IT and digital banking divisions into a single unit and will set up a group financial products and advice unit. The bank will also integrate cash management, Swedbank Pay and payment infrastructure functions within its large corporates and institutions division.

As part of the merger of the product units, Swedbank's head of group lending and payments, Leif Karlsson, will leave the bank in the first quarter of 2020.

Furthermore, Swedbank said it will create a new special task force unit that will handle both internal and external investigations into historical shortcomings in the bank's anti-money laundering controls. It will be headed by Tomas Hedberg, the bank's former head of treasury.

The Swedish lender is facing multiple investigations following allegations that it processed payments linked to a multibillion-dollar money-laundering scandal in the Baltics.