''Most large financial institutions, global banks and large broker dealers, spend weeks on completing the survey which is taken very seriously by the market. This result is a major achievement for SEB's sub-custody business and confirms that SEB is the leading custodian in the Nordic and European region. We reach our top rated positions under extreme volume and business growth, says Göran Fors, Global Head of Custody Services.
"This business is a unique mix of peoples business where long-term personal relations and trust plays an important part but where automation, processing power and operational excellence is crucial. The complexity of the business is huge. This rating will leave a very strong SEB foot-print." Fors continues.
"SEB's entire solution offers a consolidated product which truly covers the entire Nordic/Baltic region," Fors concludes. "SEB is winning big mandates because we are the only bank offering this total solution which treats the Nordics and Baltics as one region."
SEB has capitalized on the tremendous flows of investment coming into the Nordics and with its consolidated Nordic/Baltic product, and is now the leading Nordic/Baltic custody bank.
This client based survey is the benchmark among surveys in the Custody Area. Clients analysed 11 Service Areas and responded to 27 general and 63 service specific questions. Roughly sixty percent of the entire client base participated.
SEB is a North European financial group serving some 400,000 corporate customers and institutions and five million private customers. SEB has a local presence in the Nordic and Baltic countries, Germany, Poland,
the Ukraine and Russia, and a global presence through its international network in another ten countries.
On 30 June 2007, the Group's total assets amounted to SEK 2,188bn while its assets under management totalled SEK 1,403bn. The Group has about 20,000 employees. Read more about SEB at www.sebgroup.com.
For further information, please contact:
Göran Fors, Global Head of Custody Services, +46 8 763 53 04