Göran Bronner. Photo: Christine Olsson / TT
Michael Wolf Phone called regularly in November 2008 when he was presented as the new CEO of Swedbank. Among the talks fell informal job applications submitted. One of them was in the handset was Göran Bronner.
The two knew each other from SEB where they worked together during the eighties and nineties. They are almost as old, Bronner was born in 1962 and Wolf next year.
At the time of the call was Bronner on the fund company Tanglin, which he had co-founded and then pushed from the year 2000. It is said that Bronner were bored and sought greater challenges.
At Swedbank, he to work more but earn less. In the wake of the financial crisis took Bronner position as Chief Risk Officer. The first mission was to take care of all the bad loans the bank had in the Baltics. After just a few weeks, he co-presented a loss of $ 3 billion. Then came the improvement quickly.
Bronner was praised, not least by Michael Wolf, for his distinctive risk level thinking.
The fall of 2011 climbed Göran Bronner to become Chief Financial Officer and his influence increased. After a while the line will be divided into two groups. Wolf became the bank’s public face, associated with the Bank’s social commitment, while Bronner quietly took on areas far beyond purely financial issues. He got a reputation to stand for most of the operational leadership of the bank.
When Cecilia Hernqvist appointed as the new Head of Communications, the responsibility so that she reported to Bronner and not previously , the CEO Wolf.
Bronner won not only estimate internally. Although external investors and analysts came to give him the thumbs up. He is described as the mastermind behind Swedbank’s turnaround from standing on the brink of bankruptcy to become one of the banks with the strongest balance sheet. Or as a source of SvD Business puts it:
– He’s one of the smartest people I’ve met. And part of the brilliance lies in the ability to see patterns, draw conclusions and act on it. He has a unique ability to see around the corner what will happen if the 6, 12 and 18 months.
But Bronner left his desk on hedge fund Tanglin did not mean that he leaving the private financial transactions Daran. Tax Agency quoted his annual salary of 6.8 million in 2013, according to data SvD Business Bronner has been of the view that Swedbank has not paid him enough that he should not be allowed to manage their own money as he wants. It came to him questioned.
2011 Swedbank bought back shares on the stock market, which aroused criticism. Meanwhile chose Göran Bronner to sell nearly half of its private holdings of more than 9 million. When the buyback was suspended shares plummeted.
Bronner swore that he did not put on any inside information at the time of the sale, but admitted at the same time that the signal value of his action was poor. Major shareholders of the bank responded with great dissatisfaction on the CFO business. Self he stated personal financial reasons.
– I’m not leveraged, so it is not that reason. But I do not want to hang out my personal finances in the newspapers. I have a lot of shares remaining 150 000, so I’m still the largest shareholder in the lead, said Göran Bronner then.
The following year, 2012, wrote Dagens Industri about Bronner Swedbank violated internal rules and procedures. Then the Bronner according to the newspaper – without any formal permission from Swedbank’s then President, Mr Idermark – to become president of the industrial group Vinovo, a company with a loan in the bank.
Last fall, his name was rewritten again. People had talked about the real estate business with his colleague Magnus Gagner Geeber. After business came to light in the media, Magnus Gagner Geeber leave the company on the day. Wolf and Chairman affirmed, however, that it had not with property transactions to make. Now, the Wolf left the company, also in the day, and this time says the chairman of property transactions has been recorded.
Over time, it looks to Bronner’s risk level thinking has been more pronounced in terms of the bank’s finances than his own business. And a picture emerges of Bronner considered as indispensable in his work that he has his own yardstick that compares for.
Now is the bank in a leghold traps, as Albin Rännar, head of Aktiespararnas monitoring the market.
– It is strange that Bronner may remain even though he was the straw that broke the camel’s back. And because Wolf has got to go, you must now Bronner remain, says Albin Rännar continues:
– It would be logical to make him the acting president but can not because then the criticism may become too large.
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