SEB will on April 25 at 8.00 a.m. (CET) publish a restatement of parts of the financial reporting structure for 2007. The restatement follows the second step of integration of the Group's operations and finalises the financial reporting structure with a divisional and geographic matrix. The changes affect only the financial reporting structure since the organisation gradually during 2007 has been progressing according to this structure, i.e. product responsibilities in the Baltic countries have been assumed by Merchant Banking, Wealth Management and Life. It involves no further changes of reporting lines.
The revised structure involves the following changes:
- The Merchant Banking and Treasury business have been fully separated from the Retail business in Estonia, Latvia and Lithuania. It means that the business activities in the Baltic countries are reported in accordance with the Group divisional structure: Retail Banking, Merchant Banking, Wealth Management and Life. All treasury activities in SEB are the responsibility of Group Treasury and reported under "Other and Eliminations".
- The Wealth Management division includes two business areas: Institutional Clients and Private Banking. The new business areas are based on the split of customer responsibility and they are supported by Investment Management and the division's operations and staff functions.
- The cross-divisional Group Support functions, i.e. Group Operations, Group IT and Group Staff, have been fully separated from the divisions.
SEB will publish the Q1 2007 results on April 30, around 07:00 (CET).
For further information, please contact:
Ulf Grunnesjö, Head of Investor Relations, +46(0)8 763 8501, +46(0)70 763 8501