'One of Sweden's top bankers'. PrivatBank elects new chairman of the board: who is he?

The Supervisory Board of PrivatBank has appointed Mikael Björknert as the new chairman of the board, effective Monday, October 7, according to a press release from the bank.

Björknert is described as "one of Sweden's top bankers," with over 25 years of experience in the financial sector and leadership positions.

Previously, he served as the Head of Banking Business at Swedbank, where he was responsible for the entire spectrum of banking services, from retail and corporate banking to operational issues and digital transformation.

Before joining Swedbank, Björknert held the position of Chairman of the Board at Bankgirot (Sweden), Head of International Transactions at SEB Bank (Estonia), and was a member of the Board of Directors at Nasdaq (Sweden).

"I am honored to become part of PrivatBank and its exceptional team. The bank has demonstrated remarkable resilience, and I look forward to the opportunity to continue its traditions, which are based on trust, innovation, and service to the Ukrainian people. Together with the talented employees and with the support of the Supervisory Board, we will work to ensure sustainable value for all stakeholders," Björknert commented on his appointment.

Björknert will replace Gerhard Boesch, who has led PrivatBank for three years.

The appointment is subject to regulatory approval by the National Bank of Ukraine.

Björknert will be the fourth chairman of the board of PrivatBank since its nationalization:

→ 2021-2024: Gerhard Boesch

→ 2018-2021: Peter Krumhansl

→ 2017: Oleksandr Shlapak

The previous CEO, Boesch, took over PrivatBank on June 10, 2021. In June 2024, the bank announced that Boesch would be stepping down, and the Supervisory Board had already begun the process of selecting a new CEO.

Gerhard Boesch will leave his position on November 1.