Lars Millberg has been appointed as the new head of SEB Merchant Bank’s global transaction services (GTS). GTS offers cash management, trade finance and custody services.

He moves from his previous role as head of GTS Corporates, where he was responsible for the bank’s cash management, trade and supply chain finance products for large companies.

Millberg, who was the acting head of GTS, now officially succeeds Rikard Josefson who has joined Swedish Lansforsakringar Bank as a managing director.