Great owners have continued confidence Sundstrom – Swedish Dagbladet

Large owners arrive at Swedbank’s headquarters on Wednesday. In picture: Ramsay Brufer shareholder representative at Alecta. Photo: Magnus Hjalmarsson Neideman

– Now we are here to listen and hear what they have to say. If they give some additional explanations for what was said yesterday. Then we’ll greet the new CEO, says Ramsay Brufer owner-manager Alecta SvD Business.

To Michael Wolf was fired yesterday came as a shock to you?

– Not as a shock, but it was surprising. The important thing now is that the bank lives up to their promises and continue to deliver, it is a very good bank, since the new regulations imposed enforced.

But do you have confidence in Anders Sundstrom?

– Yes, we have continued confidence in the board and we stand behind the Board’s proposal that the committee put forward last week (where Anders Sundström will remain as Chairman editor’s note), says Brufer. Alecta, with 4.51 percent of the shares is the third largest owner after Folksam and Savings Bank Group.

Another of the great owners who rallied the AMF.

– we were not allowed to be on presskonferansen yesterday so we hope to hear from Anders (Sundstrom editor’s note) now says Anders Oscarsson, owner-manager of pension giant AMF SvD Business when he signs up at the reception at Swedbank’s headquarters. AMF has close to 4 percent of the shares in Swedbank and ranks among the five largest shareholders of the bank.

From the fund management company Swedbank Robur, Jan Andersson. He was, if possible, even more reticent than other owners and stated that he was there to listen to what Anders Sundstrom had to say.

Something then arrived Anders Sundström himself to his meeting.

What issues you should take up with the owners?

– Above all, I will talk to them but also presenting Birgitte (Bonnesen acting Managing editor’s note), says Sundström.

do you feel that you need to give a better picture than the one you gave yesterday?

– I need not tell you more than what I said yesterday. Above all it is important to present Birgitte, says Sundström.

Sundstrom reiterates that Swedbank now initiating a process of finding a regular president, but the direct question, he confirms that Birgitte Bonnesen is one of the board candidates for the permanent the CEO job.

– There will be a process, but she is one of the candidates he says.

Invitation to today ‘meeting went out yesterday afternoon. The reason given is to give major Swedish shareholders a chance to meet Wolf’s successor. Birgitte Bonnesen was previously head of the Swedish banking operations, but now becomes acting president. That she is not exactly a long-term solution confirms the view that the Board’s decision to kick Wolf was unplanned and abrupt.

– We got no information at all about what was going on. Then we read us how Anders Sundstrom managed Michael Wolf’s resignation yesterday. With hindsight, it should not become worse, says an owner who wishes to remain anonymous.

First conference yesterday where Sundstrom would give the Board’s view of the President’s dismissal had to be postponed due to overload. It turned out that many employees at the bank experienced a great lack of information about why their president kicked and therefore decided to register for the press conference that Sundstrom would lead. Swedbank had to go out with an internal e-mail to his employees calling on them not to call in to listen.

Once the delayed conference could be banned participants from the media to ask follow-up questions and the atmosphere was irritated. Speculation that there was more behind Wolf’s hasty exit, which was directed by the board, got off in earnest yesterday. Several media accused Sundstrom to tell lies.

‘meeting today is an attempt by Sundstrom to mitigate the criticism now directed against him and the management of the CEO question while big owners will get the chance to put questions to the acting CEO Birgitte Bonnesen. The meeting was attended almost a dozen shareholder representatives.

Next attempted charm offensive is already planned. Swedbank’s shares fell yesterday by 6 percent and even foreign investors are asking awkward questions. The plan is to Sundstrom along with the bank’s investor relations department to meet foreign investors and analysts. First in London and then in New York, Chicago and Boston.

Birgitte Bonnesen will according to data to SvD not go. Gregori Karamouzis, head of investor relations, would not confirm the reports but said that the only thing that is certain is that he will go with a colleague from the bank.