New head of Sweden’s HQ AB announced

Svante Wadman, CEO of HQ AB has left his position with immediate effect, and is being replaced by Joakim Lindén.

HQ is listed on AktieTorget AB, but currently does not own or pursue any operational businesses. Its chief business – the subsidiary HQ Bank AB – was stripped of its licence to operate as a bank and provider of asset management services by the Swedish Financial Supervisory Authority in August 2010.

At the company’s annual general meeting in May 2011 it was decided that the company should pursue previous directors and accountants for damages over their respective roles in the failures that led to the regulator removing the banking licence.

All shares in HQ Bank AB were sold to Carnegie Investment Bank AB on 3 September 2010.

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