The boards of directors of Avanza Bank Holding AB (publ) appointed Knut Frängsmyr as the new CEO. Knut will take up his new position on 6 November 2023. Rikard Josefson will remain as CEO until then.

Knut Frängsmyr, 42, has long experience from several senior positions at Klarna, most recently as COO and Deputy CEO, and before that as CFO, CTO and CLO. Prior to his time at Klarna, Knut was Head of Legal at Modern Times Group and he has a Master of Laws from Uppsala University and a Master of Laws in European Intellectual Property Law from Stockholm University. Knut essentially personifies this profile.

He has an educational background in law and therefore a deep understanding of the regulatory environment and the many requirements faced by financial companies today. During his time at Klarna, he demonstrated his leadership ability in a fast-growing business where innovation and business development as well as implementation capacity were critical. These qualities are highly relevant for Avanza's next stage of growth.

Rikard Josefson will remain as CEO until Knut Frängsmyr takes up his position and will subsequently transition to a role as senior advisor to Avanza.