SWEDEN - Tore Browaldh, former chief executive of Handelsbanken and current honorary chairman, has died aged 89.

Browaldh was CEO of the Swedish bank from 1955 to 1966 and chairman of the board from 1966 to 1978.

In total he worked for Handelsbanken for 35 years. Other jobs included working for the Swedish finance ministry, various industry organisations and the Council of Europe.

Browaldh co-founded the think tank Studieförbundet Näringsliv och Samhälle (SNS) and students in Sweden receive grants from the Tore Browaldh foundation, supporting academic research into the economic and financial sector.

Handelsbanken honoured him in a statement as someone who "combined a long and successful career as a business leader with an active interest in social issues".

"With his international outlook and long-term perspective, he was an example for all generations," the company said. "We mourn an honorary chairman who was a man of honour in every sense of the word."