The Annual General Meeting for the Kommuninvest Cooperative Society, the Kommuninvest ownership association, was held on April 21 in Stockholm.
Mr. Göran Färm, formerly Chairman of the Municipal Executive Board for the Norrköping Municipality and Member of the European Parliament, was re-elected as Chairman for Kommuninvest Cooperative Society, for the period from the AGM 2016 until the end of the AGM 2017. Ms. Ellen Bramness Arvidsson was reelected as Chairman for Kommuninvest i Sverige AB, the wholly-owned credit market in which all of Kommuninvest’s business operations are conducted.
Lars Heikensten, the former Governor of Sweden’s central bank, the Riksbank, was elected as a new member of the Board of Directors for Kommuninvest i Sverige AB.
Lars Heikensten served as the Riksbank’s 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.
Göran Färm is 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.
Some 400 elected officials and salaried employees from Kommuninvest’s owners participated at the Annual General Meeting, held at the Stockholm Waterfront Congress Centre in Stockholm.
Pictures of Lars Heikensten, Göran Färm and Ellen Bramness Arvidsson can be downloaded here.
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
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