COBALT advised Swedbank on evaluating structural changes at the Baltic level. As a result, Swedbank’s Board of Directors decided to establish a new Baltic subsidiary of Swedbank AB that will become the owner of the current subsidiary banks in Estonia, Latvia and Lithuania. The holding company will create a sub consolidated group within the Single Supervisory Mechanism.
“We have been working on improvements of our internal governance model since early 2020, taking into account the recommendations of regulators as well as industry best practises. The changes aim to ensure a simple and transparent governance structure with clear decision making that supports the bank's long-term strategy in all four of Swedbank’s home markets – Estonia, Latvia, Lithuania and Sweden,” says Jens Henriksson, President and CEO of Swedbank.
Swedbank is a Nordic-Baltic banking group headquartered in Stockholm, Sweden.
Swedbank was advised by the following team members:
- Managing Associate Monika Koolmeister, Partners Kristel Raidla-Talur, Egon Talur and Karina Paatsi, Senior Associates Karli Kütt, Heleri Tammiste and Heili Haabu, Associate Peep Vähi and Assistant Lawyer Julija Kostomarova in Estonia.
- Partners Gatis Flinters, Sandija Novicka and Toms Šulmanis, Specialist Counsel Andrejs Lielkalns, Senior Associate Ivo Cimdiņš and Associate Krišjānis Bušs in Latvia.
- Partners Eva Suduiko, Akvilė Bosaitė and Rokas Daugėla, Senior Associate Jovita Valatkaitė and Associate Milda Vaznelytė in Lithuania.
Please find the link to the press release issued by Swedbank here.
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