SEB Merchant Bank has appointed Lars Millberg as the new head of global transaction services (GTS) unit, Finextra reports. The GTS unit offers cash management, trade finance and custody services and employs 670 staff in 17 countries.

In his previous role as head of GTS corporate, Millberg was in charge of the bank’s cash management, trade and supply chain finance products for large companies. Millberg has replaced Rikard Josefson, who has joined Sweden’s Länsförsäkringar Bank as managing director.

Click here for the story from Finextra.