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SEB to acquire Boye Advisory to strengthen private wealth and family office offering

SEB has entered into an agreement to acquire all shares of Boye Advisory AB, one of the market-leading providers of non-financial services to Swedish business families. The transaction will further strengthen SEB’s Private Wealth Management & Family Office division and enhance its offering to this client segment.

“With growing demand for non-financial holistic services and international solutions, we want to build on our strong financial offering by adding additional services that cater to our customers’ administrative and lifestyle needs. This acquisition will combine SEB’s existing strong capabilities within asset management and financing solutions with Boye Advisory’s best-in-class non-financial services and provide SEB with a unique value proposition and customer experience. I am very proud that Boye Advisory and its employees will now join SEB,” says William Paus, head of SEB’s Private Wealth Management & Family Office division.

Boye Advisory, with which SEB has collaborated for several years, was founded in 2018 with the aim to support Swedish business families and individuals in managing their non-financial, administrative and lifestyle needs. The Stockholm-based company has established itself as a valued partner to several leading Swedish family businesses and owner families.

The transaction, which is expected to close during the autumn of 2024, will see SEB acquire 100 per cent of the shares in Boye Advisory. The parties have agreed not to disclose any financial details of the transaction. The transaction has no material impact on SEB Group’s key ratios, including capitalisation and costs.

As part of SEB’s Private Wealth Management & Family Office division, Boye Advisory will operate as a subsidiary in order to retain its operating model and will be a part of 1856 Family Office, which is a new global service offering concept developed by the division. 

SEB recently announced that it will establish an 1856 Family Office service company in Zurich, which will offer administrative and other non-financial services as well as office space to family offices and business families in Switzerland. To establish the new concept also in Sweden is a natural next step, and the division is exploring the opportunity to launch the 1856 Family Office offering also in SEB’s other home markets in the coming years.

Read more about the establishment in Switzerland