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Swedbank Russia appoints new head

Swedbank Russia has announced that Raimo Valo will be appointed as its new head. Mr Valo succeeds Maris Mancinskis who will continue working on a senior level within the Swedbank group.

The appointment will take effect as soon as Mr Valo receives the necessary permits from the Russian authorities. He most recently served as the Russian country manager for Glitnir.

Jan Liden, president and CEO of Swedbank group, said: Our aim is to expand operations, and with Raimo Valo’s broad-based competence and experience we expect to grow strongly in Russia, both with regards to local business and cross-border activities.