Asset management will be established as a new business unit in SpareBank 1 Markets. The new unit will be based on existing specialist environments in Trondheim and Tromsø.
SpareBank 1 Markets acquires Allegro Kapitalforvaltning in Trondheim and SpareBank 1 Nord-Norge Forvaltning in Tromsø from SpareBank 1 SMN and SpareBank 1 Nord-Norge respectively. The acquired companies will be merged and will spearhead SpareBank 1 Markets' asset management business. The new business unit will have combined AUM of approximately 10 NOK billion.
- Asset management is a new and existing business area for us, and will supplement SpareBank 1 Markets' product palette. I am convinced this will further strengthen the specialist environments in Trondheim and Tromsø, which is where the specialist competence within asset management exists, says CEO of SpareBank 1 Markets Stein Husby.
The merged asset management company will apply for a fund management license to further develop products and services for our customers. The acquired companies have discretionary investment management licences in place.
- In addition to this new business unit, SpareBank 1 Market has announced the signing of several experienced professionals from Swedbank Norge. These strategic measures combined strengthens our position in capital markets space significantly, says Mr. Husby.
SpareBank 1 SMN is the largest shareholder in SpareBank 1 Markets, holding 74 % of the shares.
Oslo, 27 February 2017
Contact details:
Stein Husby, CEO SpareBank 1 Markets, tel 414 02 591
Kjell Fordal, CFO SpareBank 1 SMN, tel 905 41 672
Hans Tronstad, Director of communications SpareBank 1 SMN, tel 941 78 322
This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)