Bloomberg recently published a list of the Worlds Strongest Banks. Given recent events surrounding the questionable behaviour of bankers in HSBC it is no surprise to not see them on the list.
However, one in particular stands out, NO 12 on the list. SEB.
We at the Spectrum IFA group have been working alongside SEB Life International for the last few years and recommending their tax efficient Investment Bonds to our clients looking to move to or living in Italy. It is good to see that we are partnering with the right kind of institutions!
Here are a few comments from some pundits in the article they wrote:
"Nordic banks are as safe as they could be" says Wilhelm Heinrichs, a fund managers at Allianz Global Investors in Frankfurt.
It wasn't always that way. Annika Falkengren, chief executive of No 12 SEB, is focusing on high-quality capital and cautious domestic lending after leading the bank through the financial crisis. When Falkengren, 53, became CEO in 2005, she says, she knew of potential risks in the Baltic states of Estonia, Latvia and Lithuania form a credit fuelled housing boom. But she didn't anticipate the shock that followed Lehman Brothers' bankruptcy in 2008. To shore up the bank after losses in the Baltics, Falkengren raised 15.1 billion kronor in a 2009 share sale. She cut 1500 jobs and reduced the bank's reliance on short-term borrowing to improve its funding profile. Then she began building capital buffers and has continued to bolster equity to this day "Ever since Lehman, I had a very strong focus on creating a rock-solid balance sheet," says Falkengren.
So, while SEB go from strength to strength we continue to be able to offer you products from one of the World's Strongest Banks.
If you would like to know about the Italian compliant products provided by SEB Life International, for people moving to, or living in Italy then you can contact me on gareth.horsfall@spectrum-ifa.com or call me on +39 3336492356
No comments:
Post a Comment