Citi Appoints Fredrik Magnusson As Head Of Nordics Commercial Banking

Stockholm, Sweden – Today, Citi appointed Fredrik Magnusson as Managing Director, Head of Nordics Commercial Banking (CCB), a business within Citi’s Banking division that focuses on supporting mid-sized corporates with their banking needs as well as international expansion ambitions. Fredrik will assume his role in early November 2025, and will report to Auke Leenstra, Head of Western Europe CCB, and Erik Savola, Head of Nordics and Head of Europe Corporate Banking, exclusively in his Nordics franchise capacity.

Based in Stockholm, Fredrik joins Citi from Danske Bank where he has had a more than 20-year career. Since 2020, Fredrik has been a Senior Banker and Team Lead for Large Corporate Banking, leading four client coverage teams in Sweden and working closely with all relevant product areas across the bank to ensure efficiency and excellence in service. Prior to this role, Fredrik headed up the Corporate Loan Origination team in Sweden from 2017 until 2020. He began his career at Danske Bank in 2002 and served in various roles across Corporate Banking, Asset Management and Loan Origination and Syndication.

In his more than two decades in the industry, Fredrik has gained a deep knowledge of banking products and solutions leveraged by corporates in the Nordics to drive strategic growth and achieve corporate ambitions.

Auke Leenstra, Head of Western Europe CCB said, “I am delighted to welcome Fredrik to Citi. Given his track record and experience, I am confident that Fredrik will help us continue driving our strong commercial banking franchise in the Nordic markets. His breadth of banking product knowledge and his close client relationships will serve him well in supporting corporates across these key European markets that need the power of a global banking franchise to support their expansion, domestic and cross-border. Fredrik will focus on the execution of the CCB strategy in the Nordics and help accelerate the franchise’s growth across these dynamic and innovative markets.”

Erik Savola, Head of Nordics and Head of Europe Corporate Banking, said,"The Nordics is a vibrant region with a wealth of innovative, fast-growing mid-sized companies poised to expand internationally. With our Commercial Banking business, Citi is uniquely positioned to empower these businesses, and, with Fredrik’s leadership, we are confident we will continue to deliver client-centric solutions for mid-sized companies across the Nordics, connecting these clients to our unparalleled global network."

Fredrik has an MSc in Finance from Jönköping International Business School.

Citi’s Commercial Banking unit, part of Banking, provides global solutions to mid-sized companies, particularly those with cross-border or international expansion ambitions. The unit was established in the Nordics in 2020 complementing Citi's existing business across these key European markets.

About Citi

Citi is a preeminent banking partner for institutions with cross-border needs, a global leader in wealth management and a valued personal bank in its home market of the United States. Citi does business in more than 180 countries and jurisdictions, providing corporations, governments, investors, institutions and individuals with a broad range of financial products and services.

Additional information may be found at www.citigroup.com | Twitter: @Citi |

LinkedIn: www.linkedin.com/company/citi | YouTube: www.youtube.com/citi | Facebook: www.facebook.com/citi

Media Contacts

Sarah Mac Rory	Sarah.macrory@citi.com	+44 20 7508 3822
Anneli Sundstrom	Anneli.sundstrom@citi.com	+46 70 250 35 91

First published on Wed, Nov 5, 2025

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