Skandinaviska Enskilda Banken AB (SEB) has promoted Svante Hedin to the newly created role of Global Head of Electronic Markets, along with Erik Bauer as its Global Head of FX and Commodities in his stead, according to an FXweek report.

Back in April, SEB appointed Mr. Hedin to the role of head of electronic trading for FX and Commodities, having succeeded Robert Celsing, SEB’s former head of electronic trading for foreign exchange (FX) and commodities.

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Mr. Hedin will continue to be based out of Stockholm, where he will focus on the bank’s electronic trading across a number of asset classes. He joined SEB back in 2013, after coming over from JPMorgan’s London branch, where he worked as its head of FX automated trading,

In addition, Mr. Bauer lands in his new role after working as the head of markets at SEB, in the group’s New York branch. He will be based out of Sweden and serve as Mr. Hedin’s replacement – Mr. Bauer has been in the role, albeit on an interim basis, since March 2015.