SEB to Set up Shop in Shanghai
SEB intends to apply for a banking licence in Shanghai to further improve the service to its client base. Lars H Thunell, President and Group Chief Executive, said: “China is one of the fastest growing markets for SEB’s clients. Its importance in terms of global sales sourcing and production is increasing day by day. Through this investment our clients will enjoy a strengthened on-shore product and service offering in a crucial region.” In addition to corporate business, expanding our operations in China makes it possible to explore a potential platform for asset management and private banking business in the region,” Lars H Thunell continued. SEB has been present in Asia for 25 years through offices in Beijing and Singapore. Its Beijing representative office will continue to operate and focus on marketing and client services.