Handelsbanken Slims Down Management as New CEO Revamps Bank

Sweden’s largest property lender Handelsbanken AB announced it will abolish the position of the Country General Manager for Sweden as part of changes to the lender’s executive team, effective from April 1.

Recently appointed Chief Executive Michael Greenwill now also assume operational responsibility for the Swedish operations, the bank said in a regulatory statement on Tuesday.

“The changes are being implemented with the objective of improving efficiency at the bank’s central staff functions and business support units,” it said.

It’s the first move for the new CEO, who started at the helm of the 152-year-old bank in January, and ...