Press release -
Patrick Nimander appointed new CFO at Kommuninvest
Patrick Nimander, 47, has been appointed new CFO for Kommuninvest in Sweden AB. Patrick joins from EKN (Swedish Export Credits Guarantee Board), where he has been the CFO since 2010. Patrick succeeds Johanna Larsson, who has been appointed Finance Director at Örebro Municipality.
- Patrick has a solid and broad background from public financial institutions and we are glad he has joined Kommuninvest, says Tomas Werngren, President and CEO. I expect Patrick to make good contributions in the development phase Kommuninvest is now in, with his experience of both governance & control and change management processes.
Kommuninvest has grown sharply since it was started by some ten municipalities in Örebro County in the mid-1980s. Today, 288 municipalities and county councils/regions are members, and Kommuninvest accounts for half of all lending to the Swedish municipal sector. Kommuninvest is Sweden's sixth largest credit institution, following the four major banks and SBAB.
Patrick Nimander has worked in public finance since 1998, with positions at EKN, the Riksbank, the Swedish National Debt Office and the Ministry of Finance. He was CFO at EKN 2010-2018 and head of Risk & Business Control 2008-2010. At the Riksbank, he served as Head of Middle Office in the Gold and Currency Administration 2006-2008, and as Head of the Banking Unit at the Financial Stability Department 2003-2006.
- Kommuninvest offers an environment where complex financial activities are combined with a public mission, this appeals to me, says Patrick Nimander. The organization has high customer ambitions and seeks to be the world's leading local government funding agency. This requires effective development of the business, but also sound finances. For me personally, this is a challenging job in both the public and financial sector sense.
Patrick Nimander took office on April 1.
Topics
Kommuninvest is a municipal cooperation for efficient and sustainable financing of housing, infrastructure, schools, hospitals etc. Together, we get better loan terms than each one individually. Since its inception in 1986, the Kommuninvest collaboration has helped lower the local government sector’s borrowing costs by many billion kronor. Currently, 288 municipalities and county councils/regions are members of this voluntary cooperation, out of a total of 310 Swedish local governments. With total assets of around SEK 360 billion (USD ~41 billion), Kommuninvest is the largest lender to the local government sector and the sixth largest credit institution in Sweden. The head office is located in Örebro.
