Sweden’s SEB has made two promotions; Lars Millberg has been raised to the position of head of global transaction services (GTS) corporate and Erik Zingmark has been promoted to the role of head of GTS international.

Before his promotion, Millberg held the position of global head of trade finance, reporting to Michael Björner, global head of GTS, who will stay as Millberg’s supervisor.

SEB has yet to confirm who will replace Millberg as global head of trade finance at the bank.

Zingmark, who was previously head of cash management, Sweden, is now responsible for all GTS services across the US, China, Singapore, UK and France.

Zingmark’s successor is Erik Seifert, who moves from head of cash management, Sweden, to SEB’s acting global head of cash management.