SpareBank 1 Markets moves into asset management

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 bought 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 exiting business area for us, and will supplement SpareBank 1 Markets’ business offering. I am convinced this will further strengthen the existing specialist environments in Trondheim and Tromsø, which is where the specialist competence within asset management exists and will be further strengthened, 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 offered with the business area. 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 Nord-Norge holds approximately 13 % of the shares in SpareBank 1 Markets after the acquisition.

Oslo, 27. February 2017

Contact details:

Stein Husby, CEO in SpareBank 1 Markets, tel 414 02 591

Rolf Eigil Bygdnes, CFO in SpareBank 1 Nord-Norge, tel 905 19 774

Stein Vidar Loftås, head of communications in SpareBank 1 Nord-Norge, tel 951 26 576

About Us

SpareBank 1 Nord-Norge is a leading provider of financial products and services in North-Norway. In addition to loans, deposits and payment transmission services, this also comprises most other savings products, as well as life- and non-life insurance products. Services and products are made available either by the bank and its subsidiaries, or through SpareBank 1 Gruppen AS's product companies.

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