Swedbank on Friday announced the appointment of Britta Hjorth-Larsen as its new chief compliance officer.
Hjorth-Larsen will take over her new duties by Aug. 1 at the latest and join Swedbank’s group executive committee, the bank said in a press release. She is currently head of non-financial risk at Bank of Ireland Group, where she has worked since July 2020, according to her LinkedIn profile. Previously, she served Scandinavia’s biggest banking group, Nordea, in a variety of capacities from 1999-2020.
She most recently held the title of head of business risk management and governance at Nordea.
“I am very happy to welcome Britta to Swedbank. Her extensive knowledge and experience will prove very valuable when the compliance function continues to proactively secure the bank’s important work in this field,” said Swedbank President and Chief Executive Jens Henriksson in the announcement.
Swedbank’s current CCO, Ingrid Harbo, announced last year she plans to retire March 31 after holding the post since 2019.
“I really look forward to joining Swedbank and to continue the journey where we constantly strengthen the compliance culture and improve controls and processes,” Hjorth-Larsen stated.
Swedbank agreed to pay a 4 billion Swedish krona (then-U.S. $390 million) administrative fine in March 2020 to settle charges stemming from investigations in Sweden and Estonia into allegations the bank was used to launder billions of dollars out of Russia. The bank’s former CEO, Birgitte Bonnesen, was charged with fraud related to the scandal earlier this month.
In October 2021, the Swedish Financial Supervisory Authority closed an investigation into potential insider trading violations at Swedbank after the bank was penalized by Nasdaq Stockholm’s disciplinary committee regarding the matter.