Dagens Industri reporter Jonas Jonsson and the newspaper’s political editor P.M. Nilsson met the sacked Swedbank CEO in Stockholm on Friday. He is described as relaxed and in good spirits.
It was Dagens Industri, which was first revealed to him that he had been notified to the FSA, and he still has not been contacted by the Economic Crimes Bureau, said he said.
He describes the newspaper about how Swedbank procedures for group management own transactions on the stock exchange was changed last summer. Michael Wolf’s own pension depot handled by Swedbank. Private banking unit took care of business, and asked him when he needed to approve something. They also checked all the compliance (compliance unit) before they have made transactions, according to Wolf.
“I whistleblower”
In August, the rules changed.
And Michael Wolf understands that the “whistleblower” as mentioned in connection with the notified transaction is – himself.
– It has afterwards proved that I have approved the transactions on my behalf in companies that have been on the Bank’s stop list. I have no knowledge of what companies are on the lists and should not have it. If this report is about, it’s me who is the whistleblower, says Wolf to Dagens Industri.
He says that he was sure that everything will be handled correctly, and are confident that the investigation against him will come to the same thing.
Exactly what business is all about, he does not tell.
Stop List of companies the bank works with
But Michael Wolf says that both the compliance manager for large cap unit (responsible for the stop list) and the Group compliance Officer received information from him about the shortcomings in the procedures, and both decided that market abuse is not relevant.
if a company ends up on the stop list, that employees are not allowed do business with them, occurs when Swedbank helps companies with operations or finance. Michael Wolf says he does not have access to it, and do not need to have it.
“Seven great years”
In the interview with Dagens Industri Jonas Jonsson says Michael Wolf that he did not are bitter about what happened last week, and he believes that it is not going any conflict in the bank.
– I have had seven great years in the bank and is incredibly proud. I was surprised that I was laid off, but it is the Board’s full power to dismiss and appoint the CEO. I do not feel that I have had a conflict with Anders Sundström. Registration for Fi is a new action by the bank.
But to speculate on what really was behind that he was fired, he wants to do, and theories about the power struggle says he does not either. Anyone with a high position have enemies, he says, and there is nothing strange about it. It is part of the CEO job that can be replaced at short notice.
To protect their honor
However, he admitted that the situation is tough right now.
– Incredibly uncomfortable and unfair. When it was just a dismissal, I felt not so much with this is different. It is important for me to defend my honor, he says to Dagens Industri.
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