Post a Comment Print Share on Facebook


Dan Lucas: Doubtful if Göran Persson is the right person for Swedbank

Göran Persson's name has been in speculation since Lars Idermark, left the position at the beginning of april.

Proponents point to his track record as finance minister and prime minister, a broad international network of contacts and he also has experience from the banking world. To it for that Swedbank has its roots in a nearly 200-year-old movement, sparbanksrörelsen.

No one who remember the 1990s can doubt that Göran Persson is a quorum. As finance minister he was one of the leading figures who drew Sweden out of the 90-crisis – on a heavy-handed way.

After statsministertiden Göran Persson had a number of directorships, including as chairman of the board for Sveaskog and LKAB. He can in other words lead a board of directors for the complex activities with mångmiljardomsättning.

And with its roots in the social democrats, is he a folkrörelsemänniska. He may be presumed to understand how sparbanksrörelsen works.

For the first: humility is it enough to get that associate with Göran Persson.

During his ten years as prime minister he brought over more power from the individual departments to himself. It was not all ministerkollegor who appreciated it. Not even when he expressed himself sometimes derogatory about them. During the ten years, Persson a total of 52 minister - Tage Erlander had 53 in 23 years.

During the statsministertiden he also got the nickname Buffalo-Persson right for his way to run over opponents, internally and externally.

to have served on the board of a small savings bank, and as a member of the Ålandsbankens board of directors. It is something completely different than sitting as the chairman of one of the Nordic region's largest banks.

incidentally may be mentioned that the bank of åland plc was scandalous fund management company's biggest (if not the bank. When their funds was kicked out of the Pensionsmyndighetens fondtorg, was bought up by bank of åland. Savers consequently ended up in the bank's expensive funds, instead of state AP7's Såfa.

prime minister Göran Persson has a broad international network is good for the bank. But it helps hardly, if, for example, the us authorities require mångmiljardböter of Swedbank.

And it is not guaranteed that an anchoring in social movements are good for Swedbank. Anders Sundström, who is also a former social democratic minister with folkrörelseanknytning, kicked three years ago, the post as chairman of the board, major shareholder lost confidence in him. He was denied the in addition, the discharge by the annual general meeting.

Folkrörelseengagemanget is also not a particularly relevant argument. Swedbank may have its roots in the sparbanksrörelsen, but is not a savings bank. It is a profit-making systemically important bank.

Admittedly, this is Sparbanksgruppen the largest individual shareholder, but then the insurance companies and mutual funds, which stands for ownership. In other words, a typical commercial european bank.

So, even if Göran Persson can lead a board of directors and is competent to make decisions, it is not what determines whether he can restore confidence in the bank. The question that should be asked is, if he manages to show humility, and the willingness to openly show what has gone wrong in the bank. It is the answer to the question that will determine how successful the former prime minister will be when he takes office as president.

also Read: Customers are at risk to have to pay for the consequences

Read also: Göran Persson proposed as chairman of Swedbank

Read also: Analysts are giving the thumbs-up for the Persson

Your Name
Post a Comment
Characters Left:
Your comment has been forwarded to the administrator for approval.×
Warning! Will constitute a criminal offense, illegal, threatening, offensive, insulting and swearing, derogatory, defamatory, vulgar, pornographic, indecent, personality rights, damaging or similar nature in the nature of all kinds of financial content, legal, criminal and administrative responsibility for the content of the sender member / members are belong.