Catella Streamlines Operations
Catella AB focuses on two operating segments: Corporate Finance and Asset Management and is establishing new business areas while streamlining its operations. Therefore, the Board of Directors has decided to initiate a process aimed at selling the credit card and acquiring operations of Banque Invik or, alternatively, the entire bank.
The credit card and acquiring operations conducted by Banque Invik offer other banks ready-made card programmes within the framework of proprietary licences for Visa and MasterCard, respectively. The operations also engage in the clearing of international credit card transactions with e-commerce companies and daily settlement in several currencies.
“From our strategic review, we have concluded that Banque Invik’s core business, card operations, does not match Catella’s business direction. The credit card and acquiring operations account for most of the bank’s revenues and earnings, and are both profitable and offer major potential, but would be best developed in another structure in which they complement or strengthen existing business. As a result, we are now initiating a process where Catella’s ownership of the credit card and acquiring business or, alternatively, the entire bank, is reviewed,” says Johan Ericsson, CEO Catella AB.
In connection with this, changes are implemented in Banque Invik’s management. Fredrik Sauter will step down from the position as CEO to become the Chairman of the Board at the bank, and the new CEO will be Anders Thonning, formerly CEO at Nordnet Luxembourg, who will take up his new position on 1 April. Banque Invik, which has its headquarters in Luxembourg, has a workforce of 127.
Catella is a European finance group focuses on selected segments within Corporate Finance and Asset Management where advanced specialist expertise and local presence, combined with international reach, are key in creating added value for clients.
Catella’s Corporate Finance operations offer advanced financial advisory services, primarily in the professional property market. The aim is to identify additional market segments where Catella sees capacity to become a leading player. An example is the fixed income market, in which Catella took an initial position in early 2011. The new operations will provide financial advisory services in the fixed-income field and engage in the issuance of fixed-income products, such as corporate bonds.
Asset Management offers institutions, companies and private individuals services in Fund Management and Private Banking. As part of efforts to further consolidate Catella’s position in the operating segment Asset Management, four new funds were launched in 2011.
Within Private Banking, Catella took steps into the Nordic market early this year through the acquisition of EKF Enskild Kapitalförvaltning, which will provide a platform for the development of Catella’s Private Banking operations, which Fredrik Sauter will head.
Catella’s Group Management
Catella AB’s Group Management has been appointed, comprising the following:
Johan Ericsson, CEO
Lennart Schuss, Deputy CEO
Ando Wikström, CFO
Fredrik Sauter, CEO, Banque Invik
Johan Nordenfalk, CLO
Anne Rådestad, Head of Communications
“With this management structure, continuity and Catella’s historic base are combined with external input, which will enrich and develop Catella. In addition, we will set up an Executive Committee with representatives from our major subsidiaries in the Nordic region and Europe,” says Johan Ericsson.
For further information, please contact:
Johan Ericsson
Chief Executive Officer
+46 8 463 33 10
Fredrik Sauter
Chief Executive Officer, Banque Invik
+46 73 422 15 27
Press contact:
Anne Rådestad
Head of Communications
+46 8 463 34 29, +46 73 654 74 50
About Catella: Catella is a European finance group active in Corporate Finance and Asset Management. In these operating segments, Catella focuses on selected segments in which advanced specialist expertise and local presence, combined with international reach, are key in creating added value for clients. Catella has approximately 420 employees working at offices in 24 cities in 13 European countries. Catella share is listed on First North and traded under the abbreviations CAT A and CAT B. Remium AB is Catella’s Certified Adviser, +46 8 454 32 00. Read more about Catella at www.catella.se.
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