SEB president and chief executive Johan Torgeby has resigned for personal and family reasons, leaving the Swedish bank on 6 October 2026 as it begins the search for his permanent successor.

SEB said its board has appointed deputy president and chief executive Jonas Ahlström as acting president and chief executive, subject to regulatory approval. Ahlström has worked at SEB since 2005 and has been a member of the group executive committee since 2020.

Torgeby had led SEB for almost 10 years, having joined the bank in 2009. Before becoming chief executive, he held several senior positions including co-head of its former Large Corporates & Financial Institutions division, and joined the group executive committee in 2014.

SEB chair Marcus Wallenberg said Torgeby had provided “inspiring and highly appreciated leadership” and that the board “fully respects Johan’s decision”. Wallenberg credited the departing chief executive with strengthening the bank’s position and creating long-term value for customers, shareholders and society.

Torgeby said he had found it “particularly inspiring” to work closely with SEB’s customers during his tenure. “I am proud of what we have achieved together,” he said.

WealthBriefing reported that Torgeby’s departure leaves SEB under interim leadership while the board seeks a permanent replacement. The bank has a significant private wealth management and family office business in the Nordic region, alongside corporate and investment banking operations.

SEB said its board will now initiate the recruitment process for a new president and chief executive. Torgeby has simultaneously left his position as a member of the bank’s board.

The leadership change comes as SEB continues to operate as one of northern Europe’s largest financial services groups, with around 18,400 employees and operations in more than 20 countries. The bank reported total assets of SEK 4,355 billion and assets under management of SEK 3,069 billion at 30 June 2026.

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