SEB Restructures to Drive Strategic Growth, Strengthen Customer Focus, and Boost Innovation

SEB Restructures to Drive Strategic Growth, Strengthen Customer Focus, and Boost Innovation

(IN BRIEF) SEB is restructuring its organization to align with its long-term strategic goals, effective January 1, 2025. The changes include consolidating wealth and asset management into a single division, creating a new Chief Operating Officer (COO) role, and renaming two key divisions. The restructuring aims to improve customer focus, accelerate technology adoption, and support SEB’s 2030 Strategy. New leadership appointments have also been made, and updates to the Group Executive Committee (GEC) are part of this effort to strengthen SEB’s ability to deliver value to customers and shareholders.

(PRESS RELEASE) STOCKHOLM, 17-Sep-2024 — /EuropaWire/ — SEB has announced significant changes to its organizational structure, aimed at supporting the bank’s long-term strategic goals and improving efficiency. The restructuring, effective January 1, 2025, consolidates SEB’s wealth and asset management operations into a single division and introduces a new Chief Operating Officer (COO) function. These adjustments are intended to enhance customer focus, accelerate the adoption of new technologies, and align business development with strategic priorities.

As part of the reorganization, the newly created Wealth & Asset Management division will be led by William Paus, while Jonas Ahlström will serve as COO and deputy President & CEO. Additionally, SEB is renaming two divisions: Large Corporates & Financial Institutions becomes Corporate & Investment Banking, and Corporate & Private Customers will be known as Business & Retail Banking. These structural changes coincide with updates to SEB’s Group Executive Committee (GEC), with new leaders joining and current roles evolving to reflect the bank’s growth and innovation goals.

SEB’s President and CEO, Johan Torgeby, emphasized that these changes are crucial to the bank’s 2030 Strategy, addressing the challenges of a rapidly changing market and improving the bank’s ability to create value for customers, shareholders, and society.

SEB is a leading northern European financial services group with international reach. We exist to positively shape the future with responsible advice and capital, today and for generations to come. By partnering with our customers, we want to be a leading catalyst in the transition to a more sustainable world. In Sweden and the Baltic countries, SEB offers financial advice and a wide range of financial services. In Denmark, Finland, Norway, Germany and the United Kingdom, we 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 our presence in more than 20 countries worldwide, with around 18,000 employees. At 30 June 2024, the Group’s total assets amounted to SEK 4,152bn while assets under management totalled SEK 2,666bn. Read more about SEB at sebgroup.com.

Media Contacts:

Pawel Wyszynski, Head of Investor Relations
+46 70 462 2111
pawel.wyszynski@seb.se

Petter Brunnberg, Head of Media Relations & External Communication
+46 70 763 5166
petter.brunnberg@seb.se

SOURCE: Skandinaviska Enskilda Banken AB (SEB)