PRESS RELEASE: Former Riksbank governor nominated to Board of Kommuninvest

The Election Committee for Kommuninvest i Sverige AB, in which all business operations of Kommuninvest are conducted, today announced its proposal on members of the Board of Kommuninvest i Sverige AB, to be resolved at the Annual General Meeting on 21 April  2016.

For re-election as members of the Board of Kommuninvest i Sverige AB, for the period from the AGM 2016 until the AGM 2017, the Election Committee proposes Ellen Bramness Arvidsson (Chairman), Kurt Eliasson, Anna von Knorring, Erik Langby, Anna Sandborgh and Johan Törngren.

For election as a new member to the Board of Kommuninvest i Sverige AB, for the period from the AGM 2016 until the AGM 2017, the Election Committee proposes Lars Heikensten.

Lars Heikensten is the former Governor of Sweden’s central bank, the Riksbank, serving as the Deputy Governor from 1995 to 2003 and as Governor from 2003 to 2005. Currently, Mr. Heikensten is the Executive Director of the Nobel Foundation, which manages the assets that fund the awarding of the Nobel Prize.

Mr. Heikensten has extensive experience of Swedish financial markets, including as head of the Economic Affairs Department at the Ministry of Finance and as Chief Economist at Handelsbanken. Lars has also held several international assignments, such as a member of the EU Monetary Committee, the General Council of the ECB (European Central Bank), and the Board of the BIS (Bank of International Settlements). Board. Between 2006 and 2011, Mr. Heikensten was a Member of the European Court of Auditors.

What attracted Lars Heikensten to Kommuninvest is the long-term prospects for the Swedish local government sector.

– Sweden’s municipalities are facing major challenges ahead, not least, extensive investment in housing and infrastructure, says Lars Heikensten. At the same, the requirements on the financial sector are tightened in the wake of the financial crisis. Against this background, it will be exciting and interesting to work in Kommuninvest’s Board of Directors.

Comment by Göran Färm, Chairman of the Board of Directors of Kommuninvest Cooperative Society and Chairman of the Election Committee of the Society’s companies.

– I am delighted to welcome Lars to Kommuninvest as a new board member. There are probably few people in Sweden, who combine such thorough academic skills and practical knowledge in the financial area.

Comment by Ellen Bramness Arvidsson, Chairman of the Board of Kommuninvest i Sverige AB.

– Lars Heikensten is an excellent suggestion, and I look forward to working with him on the board. His depth of knowledge will be of great benefit to us.

 

Photos

Picture of Lars Heikensten for download.

Pictures of Göran Färm and Ellen Bramness Arvidsson can be downloaded here.

 

Note to editors

Kommuninvest is organized in a member organization, Kommuninvest Cooperative Society, with 281 Swedish local governments as members/owners. The Society is the sole of owner of a credit market company, Kommuninvest i Sverige AB, in which all business operations are conducted. The 281 members/owners of the Society have signed a joint and several guarantee arrangement in respects of the credit market company’s commitments. Kommuninvest is AAA/Aaa-rating, with stable outlook.

 

About Kommuninvest

Kommuninvest is a municipal cooperation for efficient and sustainable financing of housing, infrastructure, schools, hospitals etc. Together, we get better loan terms than each one individually. Since its inception in 1986, the Kommuninvest collaboration has helped lower the local government sector’s borrowing costs by many billion kronor. Currently, 272 municipalities and 9 counties/regions are members of this voluntary cooperation. With total assets of around SEK 350 billion (USD ~40 billion), Kommuninvest is the largest lender to the local government sector and the sixth largest credit institution in Sweden. The head office is located in Örebro.

 

For further information

Björn Bergstrand, Head of Media Relations, tel: +46 (0)10 470 87 31 alt. +46 (0) 70 886 94 76, e-mail: bjorn.bergstrand@kommuninvest.se