Nordnet, ABG to found private banking joint venture in Nordics
Nordnet, ABG to found private banking joint venture in Nordics Sept 15 (Reuters) - Sweden's Nordnet SAVE.ST and Norway's ABG Sundal Collier ABGA.OL will establish a joint venture oriented toward private banking services, the Nordic financial groups said on Tuesday.
Nordnet said it expected the new company to start operations in 2027, with an initial launch in Sweden to be followed by an expansion into other markets where the banks currently operate.
Nordnet and ABG will own equal shares in the joint venture, they said.
Jonas Strom, a former CEO of ABG, will become the chair of the board in the venture.
Former Nordnet executive Martin Ringberg will be the CEO.
The groups plan to initially employ between 15 and 20 people in the joint venture.
(Reporting by Boleslaw Lasocki in Gdansk, editing by Milla Nissi-Prussak)
((boleslaw.lasocki@thomsonreuters.com))