SWEDEN – Representatives from Swedish pension bodies AP2 and Alecta have been appointed to a board election committee at banking group Handelsbanken.

Chairman Arne Mårtensson was charged at the bank’s AGM in April with appointing one representative from each of the bank’s four largest shareholders to constitute the nomination committee.

The group will prepare the next election of the board, the bank said. It added that the committee “must not include representatives of companies whose business is in competition with the bank”.

The four-strong committee includes Andra AP-fonden’s head of corporate governance and communications Carl Rosén and Alecta chief executive Tomas Nicolin. Nicolin is a former CEO at Swedish buffer fund AP3.

The other members are Stellan Borgh of Handelsbanken’s employee profit-sharing system the Oktogonen Foundation and Tom Hedelius of holding group Industrivärden.

Yesterday it emerged that AP2 had slightly raised its stake in insurance group Skandia.