Under a new group structure Nordic banking group SEB is planning to integrate its asset management and private banking activities into a new...

Under a new group structure Nordic banking group SEB is planning to integrate its asset management and private banking activities into a new wealth management division that will be operational from 1 January 2007.

Fredrik Boheman has been appointed head of the new unit.

"By integrating our businesses we are taking the next step to further exploit our platform and enable investments in product development, better customer services and future growth opportunities.

"Our new and more client-focused organisation will provide customers with better access to our leading product offerings and higher quality. We are also taking a first step to integrate support functions in order to provide a solid basis for increased operational efficiency," said Annika Falkengren, SEB president and chief executive.