Swedbank is facing pressure from some of its biggest shareholders to reveal more about what it knew about allegations of money-laundering linked ...
STOCKHOLM: Swedbank is facing pressure from some of its biggest shareholders to reveal more about what it knew about allegations of money-laundering linked to Danske Bank.
"We are having a dialogue with the company on the issues that we think we need more information on to be able to continue to be investors in the company," Magdalena Wahlqvist Alveskog, acting CEO of Handelsbanken Asset Management which is Swedbank's 11th largest investor with a 1.85 percent holding, told Reuters.
A spokesman for AMF, Swedbank's fifth largest investor with a 4.77 percent stake, said more transparency was needed. Bonnesen said in an interview with Swedish news agency TT on Tuesday that her answers after the Feb. 20 TV report had been correct but that she could have given more context and nuance.AMF and Alecta, Swedbank's third largest investor with 4.86 percent of its shares and a Swedish pension fund holding about 85 billion euros under management, have representatives on the committee that selects Swedbank's board.
A fifth top-20 Swedbank investor, who declined to be identified, said that the results of the external report would be critical in deciding on its next steps.
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