On October 7, 2024, the Supervisory Board of PrivatBank, the largest bank in Ukraine, announced the appointment of Mikael Björknert as Chief Executive Officer (CEO), following a very competitive international search process that included high caliber candidates from Ukraine as well as international candidates.
The appointment of Mr. Björknert, a top banking executive in Sweden, further demonstrates the strength of PrivatBank’s corporate governance and the ability of Ukraine to continue attracting top corporate talent despite the war. It also underlines Ukraine’s consistent focus on, and progress towards, integration with the European Union. Under Mr Björknert’s leadership, PrivatBank will continue to play a critical role in Ukraine’s economic resilience and reconstruction.
Mikael Björknert brings a wealth of experience and proven leadership over more than 25 years in the financial sector, making him uniquely qualified to lead Ukraine's largest state-owned bank. Most recently, he held the position of Head of Swedish Banking at Swedbank. In this role he had responsibility for a range of banking activities, from retail to corporate, operations and digital transformation. At Swedbank, Mr Björknert successfully led initiatives in strategic planning and digital banking. He is also recognized by the banking industry as an internationally acclaimed sector expert, and is a trusted advisor to senior leadership teams of global banks on various critical topics.
Before joining Swedbank, he held the position of Chairman of the Board at Swedish Bankgirot, Head of Global Transaction Services at SEB Bank, Member of the Board at Nasdaq (Sweden).
At PrivatBank, Mr. Björknert will focus on advancing PrivatBank’s customer-centric model, accelerating digital initiatives and future-proofing the bank to ensure it remains a reliable and trusted partner for its 18 million customers.
Commenting on the appointment, Nils Melngailis, Chairman of PrivatBank’s Supervisory Board, said: "The appointment of Mikael Björknert highlights PrivatBank’s commitment to responsible leadership, operational excellence, and maintaining its role as a cornerstone of Ukraine’s financial system during these challenging times. We are confident that Mikael’s prudence and experience, particularly in digital banking and operational excellence, will be invaluable assets for the bank and will enable PrivatBank to succeed during this challenging period. His leadership will ensure the bank continues to deliver outstanding service to its customers while maintaining the highest standards of governance and reliability. We would all like to express sincere gratitude to Gerhard Bösch, who has served as CEO of PrivatBank for the past three and a half years. His leadership and unwavering dedication have made a lasting and meaningful impact for the entire banking system during Ukraine’s most challenging times."
In his first remarks as CEO-nominee, Mikael Björknert said: "I am deeply honored to join PrivatBank and its exceptional team. The bank has shown remarkable resilience, and I look forward to continuing its legacy of trust, innovation, and service to the Ukrainian people. Together with the talented employees and the support of the Supervisory Board, we will work towards delivering sustainable value for all stakeholders."
The appointment is subject to NBU regulatory approvals.
PrivatBank is the largest state-owned bank of Ukraine. The Bank serves over 18 million active customers, while over 70% of Ukrainians use its services. The Bank is the leader in retail banking, introduces new and upgrades existing services for small and medium businesses, has created a strong digital ecosystem and a wide network of over 1,186 branches, 6,850 ATMs, nearly 10,400 self-service terminals and over 308,000 POS-terminals across the country. Over 19,000 employees make up the PrivatBank's team. PrivatBank works to drive Ukraine's economy, support the residents and the businesses despite the war. We are getting things done!
