Swedbank dismisses CEO as money laundering claims spook investors

The CEO of Swedbank, Birgitte Bonnesen got dismissed on Thursday after disgruntled shareholders rounded on her handling of a rapidly-growing money laundering scandal, as per reports.

The lender had said it had faith in Bonnesen to calm concerns over allegations that Swedbank’s Baltic accounts were used to launder money. The Swedish economic crime authority had decided to broaden its probe to cover suspected fraud. This proved to be the final straw for its board.

Bonnesen was criticized by the investors for her communication and the way she has handled the allegations. This have sparked investigations by regulators and wiped a third off the market value of Sweden’s oldest savings bank.

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