SWEDEN/UK - SEB Invest is closing its London office, following the decision to co-ordinate its European operations from its parent company's headquarters in Stockholm.
The Swedish financial services firm currently employs 12 asset management staff in London, of which three are fund managers and four analysts. A spokesman for the firm said that the moving process has already begun, and is expected to take three to four months to complete.
Through the merging of the London and Stockholm offices European asset management will be more closely linked with the rest of the management and research organisation in Stockholm. This results in a better interaction and utilisation of the combined expertise,” said Harry Klagsbrun, head of SEB Invest.
Another benefit would be the cost savings derived from moving away from London, Klagsbrun added.
SEB Invest’s other offices will be unaffected by the reorganisation. The firm operates from offices in Stockholm, Helsinki, Copenhagen and Frankfurt, New York and Asia, via a co-operation agreement with Schroders.
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