Finance
Handelsbanken CEO Fails to Rein In Cost in His First Quarter
- CEO Michael Green has vowed to boost lender’s efficiency
- Mounting staff costs are driving the expense increases
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Svenska Handelsbanken AB Chief Executive Officer Michael Green failed to put a lid on costs during the first quarter in his role, despite promises to make the lender more efficient.
The Stockholm-based bank’s expenses jumped 12% between January and March, it said in a statement on Wednesday. The bank vowed to take corrective actions “at a higher pace” going forward.