Swedbank Fires CEO Over Money Laundering Allegations

Swedbank AB has fired its chief executive officer, Birgitte Bonnesen, amid allegations the bank was used to launder billions of dollars in Russian money on her watch.

Bonnesen, 62, will be replaced on an interim basis by Chief Financial Officer Anders Karlsson, the bank said on Thursday as the board prepared to face shareholders at an annual general meeting in Stockholm. The announcement came just moments after three of Swedbank’s biggest investors made clear they’d lost confidence in Bonnesen, after she appeared to mislead the public about the seriousness of the laundering case.