STOCKHOLM--(BUSINESS WIRE)--Regulatory News:
Swedbank’s (Pink Sheets:SWDBF) (STO:SWEDA) (LSE:SWK) business unit Large Corporates and Financial Institutions (LC&I) was formed to meet the demand for integrated financial solutions among large corporations, financial institutions and organisations. LC&I is now taking the next step to further advance its client-centric model. By coordinating its operations internally, LC&I will deliver fully integrated advisory and analysis.
- Capital Markets coordinates all activities within foreign exchange-, currency- and equity trading. Previously having worked in separate units, the common capital markets unit will meet clients’ demand for integrated advisory and product expertise across all asset classes. A coordinated trading over the asset classes is also expected to improve Value at Risk (VAR).
- Origination and Advisory summons all units that work with issues and advisory on both the bond- and the equity side, as well as the Structured Finance and Loans & Syndication units.
- Swedbank Research gathers the Group's macro-, equity- and credit analysis under the guidance of Angelique Angervall. The new Swedbank Research unit will also integrate Swedbank's Economic Research Department.
- New Chief Economist of Swedbank is Cecilia Skingsley. Ms Skingsley has been Head of FX and Fixed Income Research at Swedbank since 2007. She has a Bachelor of Economics from Stockholm University and is Certified European Financial Analyst (CEFA) by Stockholm School of Economics. Previously, she has been Finance Editor for the Swedish newspaper Dagens Industri as well as Press Officer for the Swedish Ministry of Finance.
Magnus Geeber, Head of LC&I, sees the reorganisation as a natural next step for the business: “Across all client surveys, the message is clear - clients prefer a partner who has a holistic view and who understands their challenges. We must have the capacity to deliver integrated solutions while also being a fundamentally analysis driven organisation, at all times focused on what is best for our clients. Given our client-centric approach, we adapt our organisation to our clients needs.”
Angelique Angervall, newly appointed Head of Swedbank Research, has started to plan the structure of the new Research unit. “The mission I have been given is very exciting. Swedbank's analysts are top-ranked in all markets where we operate and I feel convinced that we will deliver even greater customer value by working more integrated across the asset classes.”
Swedbank's former Chief Economist Cecilia Hermansson will move on to the new role of Senior Economist, where she will represent the bank in various contexts. She will also continue to focus on her on-going research at the Centre of Banking and Finance (Cefin), part of KTH Royal Institute of Technology in Stockholm.
Swedbank promotes a sound and sustainable financial situation for the many people, households and companies. Our vision is to contribute to a development “Beyond Financial Growth”. As a leading bank in the home markets Sweden, Estonia, Latvia and Lithuania, Swedbank offers a wide range of financial services and products. Swedbank has 7.8 million retail customers and around 600,000 corporate customers and organizations with 310 branches in Sweden and approximately 200 branches in the Baltic countries. The group is also present in other Nordic countries, the U.S., China, Russia and Ukraine. As of 31 December, 2012 the group had total assets of SEK 1,847 billion. Read more at www.swedbank.com
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