Swedish investment bank Carnegie has recruited one of the top bankers at rival Handelsbanken as its chief executive, completing its new-look board that was installed following a proprietary trading scandal last year that led to a Skr50m (€5.3bn) fine from regulators for control deficiencies.

Carnegie, whose previous chief executive Stig Vilhelmson was ordered to leave with immediate effect by Swedish regulators, said in a statement today it has appointed Mikael Ericson as its new president and chief executive.