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SEB acquires Danish private banking operation

SEB has acquired Prime Management, established 1992, from ABN AMRO. Prime Management will become an integrated part of SEB Private Banking, thereby extending SEB's position as one of Denmark's leading asset managers. In doing so, SEB is further reinforcing its business in Denmark, which previously offered products within the field of merchant and investment banking, life insurance, capital management, credit cards and retail banking.
Prime Management has nine employees with extensive experience of capital management and trading in securities.
The transaction is subject to receiving regulatory approval from the Danish Financial Supervisory Authority.
Since the Bank opened in 1856, generations of customers and employees have made SEB what it is today. This year the Group is celebrating 150 years of looking forward.
The SEB Group is a North European financial group for 400,000 corporate customers and institutions, and 5 million private customers. SEB has local presence in the Nordic and Baltic countries, Germany, Poland and the Ukraine. Approximately half of SEB's customers use the internet for their banking transactions. On 31 December 2005, the Group's total assets amounted to SEK 1,890bn while its assets under management totalled SEK 1,118bn. The Group is represented in some 20 countries around the world and has a staff of about 20,000. Read more about SEB at www.sebgroup.com.
For further information, please contact:
Jørgen Madsen, Director SEB Private Banking, Denmark, Tel: 33 76 13 34,
Mobile: 20 70 85 98, mail: jorgen.madsen@seb.dk
Ulf Peterson, Head of SEB Private Banking, Tel: +46-8-7635310, ulf.peterson@seb.se