Swedish financial institution Skandinaviska Enskilda Banken (SEB) announced the appointment of Mats Holmström as chief risk officer.

Holmström will succeed Magnus Agustsson, who will be leaving SEB to become chief risk officer at Danske Bank. Agustsson had held the position at SEB since 2017.

Holmström, who joined SEB in 1990, is currently head of corporate banking in SEB’s Large Corporates & Financial Institutions division (LC&FI), a position he has held since 2017. Prior to that, he was head of project, asset and structured finance, also in LC&FI.

Reporting to SEB President and CEO Johan Torgeby, Holmström will become a member of the bank’s group executive committee.