Bloomberg News

Carnegie Reduces Support Staff in Copenhagen Removing 8 Jobs

March 15, 2012

Carnegie Investment Bank AB, which became the only lender to be taken over by Sweden’s government during the financial crisis, cut eight jobs in Copenhagen today as part of a plan to reduce staff by 100 people.

“In 2011, during the fall, we said we planned to reduce the number of full-time employees by about 100 during the coming year,” said Andreas Koch, a spokesman at Carnegie in Stockholm, in a telephone interview today. “This is a gradual process, but, yes, eight from various support functions have left the Copenhagen office.”

Carnegie said in a statement yesterday that Chief Executive Officer Frans Lindelow will leave the bank in the second half of 2012.

The plan to cut jobs, which was first announced in November, is part of the integration of HQ Bank, which Carnegie bought for 268 million kronor ($39.4 million) in September 2010 when HQ was stripped of its banking license.

To contact the reporters on this story: Peter Levring in Copenhagen at plevring1@bloomberg.net; Adam Ewing in Stockholm at aewing5@bloomberg.net

To contact the editor responsible for this story: Andrew Rummer at arummer@bloomberg.net


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