By Dominic Chopping

STOCKHOLM--Swedbank said Friday that Raymond Klavestad has been appointed as new chief executive of its PayEx payments processing subsidiary.

Klavestad has previously held leading positions in PayEx, most recently as chief of PayEx Ledger & Factoring and deputy chief executive of PayEx Sverige. He replaces Ola Laurin, who is leaving the company to pursue new opportunities outside of the company.

Write to Dominic Chopping at dominic.chopping@wsj.com

(END) Dow Jones Newswires

November 17, 2023 08:56 ET (13:56 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.
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