SpareBank 1 SMN: Increased ownership focus in SpareBank 1 Markets
(Thomson Reuters ONE) -
SpareBank 1 SMN, SpareBank 1 Nord-Norge, Samarbeidende Sparebanker, Sparebanken
Hedmark and LO to gain direct ownership in SpareBank 1 Markets.
SpareBank 1 Markets, which have had SpareBank 1 Gruppen AS as its main owner
(98%), will effective from the third quarter of 2013, have a new ownership
structure through SpareBank 1 Gruppen's divestment of its shares in the company.
SpareBank 1 Markets will thereby be directly owned by SpareBank 1 SMN (24%),
SpareBank 1 Nord-Norge (24%), Samarbeidende Sparebanker (24%), Sparebanken
Hedmark (15%), LO (12%) and employees (2%)
- The banks' direct ownership in SpareBank 1 Markets will give an even better
platform for an overall corporate market and capital markets strategy for the
SpareBank 1 banks. This will enable the banks to better serve its corporate
customers, and thereby strengthen the banks' competitive edge. Combined with
measures to enhance profitability, we will be in a position to achieve better
results for the company and thereby a better return for the owner banks, says
Jan-Frode Janson, chairman of SpareBank 1 Markets and CEO of SpareBank 1 Nord-
Norge.
- SpareBank 1 Markets is facing an exciting future, in which some of the
country's most interesting markets will become even more available to us. Our
competence and experience will together with the owner banks contribute to
strengthen our national presence, says CEO Martin Hagen in SpareBank 1 Markets.
Operations in Tromsø, Trondheim and Oslo
SpareBank 1 Markets will acquire parts of the capital markets operations of
SpareBank 1 Nord-Norge and SpareBank 1 SMN, divided into 4 man-years in Tromsø
and 12 man-years in Trondheim. This applies to the following services; corporate
finance, equity trading and research.
- This integration will contribute to strenghten our local operations. Through a
closer cooperation between SpareBank 1 Markets and SpareBank 1 SMN the alliance
will appear as even more competent and attractive in Trøndelag and North-Western
Norway. This will give us increased presence in our market area, and we forsee a
substantial growth potential, says CEO Finn Haugan in SpareBank 1 SMN.
SpareBank 1 Markets will strengthen its operations in Tromsø and Trondheim, and
all current employees in these locations will continue to work in their
respective geographic workplaces. In addition, SpareBank 1 SMN will continue its
operations within trading of bonds and fixed income/forex with the current
ownership.
SpareBank 1 SR-Bank has opted not to acquire an ownership stake in SpareBank 1
Markets. SpareBank 1 SR Markets in Stavanger will continue its close and
complementary cooperation with SpareBank 1 Markets.
SpareBank 1 Gruppen will divest its SpareBank 1 Markets shares for NOK 145
million. In connection with the change of ownership, SpareBank 1 Gruppen has
written off its ownership stake with NOK 122 million as of 30 June 2013.
The transaction is subject to necessary board approvals as well as the approval
by the Financial Supervisory Authority of Norway.
Contact persons in SpareBank 1:
Chairman of the board Jan-Frode Janson in SpareBank 1 Markets, tel.
+47 909 75 183
CEO Finn Haugan in SpareBank 1 SMN, tel. +47 900 41 002
About SpareBank 1 SMN
SpareBank 1 SMN is the region's leading financial services group. It leads the
retail and corporate market, and is positioned in 43 localities across the
region's municipalities with a total of 50 offices.
We aim to be the recommended bank for customers in Trøndelag and in Møre and
Romsdal. Being a local, independent savings bank we feel a special
responsibility for stimulating growth and prosperity in the region. We base our
business on closeness to our customers, good accessibility, a full product range
and comprehensive financial advisory services.
Our head office is in Trondheim. The Group employs about 1,200 staff and
includes the following subsidiaries: SpareBank 1 SMN Finans, EiendomsMegler 1
Midt-Norge, Allegro Finans and SpareBank 1 SMN Regnskap. It is the largest
shareholder in BN Bank with a 33% stake.
SpareBank 1 SMN is one of six owners of SpareBank 1 Gruppen. For further
information, visit our website at www.smn.no.
This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act)
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: SpareBank 1 SMN via Thomson Reuters ONE
[HUG#1722366]
Unternehmensinformation / Kurzprofil:
Datum: 12.08.2013 - 08:01 Uhr
Sprache: Deutsch
News-ID 286605
Anzahl Zeichen: 5296
contact information:
Town:
Trondheim
Kategorie:
Business News
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