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SEB Group

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Skandinaviska Enskilda Banken AB
Company typePublicly traded Aktiebolag
Nasdaq Stockholm: SEB A
IndustryFinancial services
Founded1972
HeadquartersStockholm, Sweden
Key people
Annika Falkengren (President and CEO), Marcus Wallenberg (Chairman)
ProductsRetail banking, merchant banking, wealth management, life insurance, pensions
AUMSEK 1,387 billion (June 30 2013)[1]
Total assetsSEK 2,596 billion (June 30 2013)[1]
Number of employees
16,000 (FTE, summer 2013)[1]
Websitewww.sebgroup.com

Skandinaviska Enskilda Banken AB (SEB) (Scandinavian Private Bank) is a Swedish financial group for corporate customers, institutions and private individuals with headquarters in Stockholm, Sweden. Its activities comprise mainly banking services, but SEB also carries out significant life insurance operations and also owns Eurocard. The bank was founded and is controlled by the Swedish Wallenberg family through their investment company Investor AB.

Overview

SEB is a leading Nordic financial services group. As a relationship bank, SEB in Sweden and the Baltic countries offers financial advice and a wide range of financial services. In Denmark, Finland, Norway and Germany the bank's operations have a strong focus on corporate and investment banking based on a full-service offering to corporate and institutional clients. The international nature of SEB's business is reflected in its presence in some 20 countries worldwide. At 30 June 2013, the Group's total assets amounted to SEK 2,596 billion while its assets under management totalled SEK 1,387 billion. The Group has around 16,000 employees.

History

In 1972, Stockholms Enskilda Bank (established in 1856 by André Oscar Wallenberg) and Skandinaviska Banken (established in 1864) merged to form SEB. Reasons for the merger included creating a bank better positioned to serve corporate clients and to fend off competition from major international banks.

Divisions

Wholesale Banking: SEB offers a wide range of commercial, investment banking and asset management services to large corporate and institutional clients. SEB's philosophy is to follow clients out into the world, supporting them wherever they do business.

Today, SEB has operations in close to 20 countries and teams with partners to provide support in areas where it doesn't have a permanent base.

Retail and SME Banking: SEB provides banking and life insurance services to four million private individuals and 400,000 small and medium-sized business customers in Sweden, Denmark, Estonia, Latvia and Lithuania as well as card operations in all four Nordic countries and Latvia.

In Sweden, SEB serves some 1.6 million private customers and 190,000 small and medium-sized companies with banking and advisory services from 165 branch offices as well as through the Telephone Bank, Internet Bank and mobile apps.

In the Baltic region, SEB serves some 1.8 million private customers and 130,000 small and medium-sized companies with banking and advisory services from 128 branch offices as well as through the Telephone Bank, Internet Bank and mobile apps.

SEB issues cards and arranges acquiring agreements in Sweden, Denmark, Norway, Finland and Latvia under SEB’s own brand as well as for Eurocard and Diners Club cards. In all, the business comprises approximately 3.5 million cards issued to private customers and companies as well as acquiring agreements with some 180,000 participating merchants.

SEB serves 1.8 million customers in Sweden, Denmark, Finland, Ireland, Luxembourg, Estonia, Latvia, Lithuania and Ukraine with life insurance products.

Private Banking: SEB provides a comprehensive range of services in asset management, legal and tax advice, insurance, financing and banking to foundations and high net-worth private individuals in Sweden and abroad.

Subsidiaries

References

  1. ^ a b c Cite error: The named reference AR2013 was invoked but never defined (see the help page).

Data

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