SpareBank 1 and Swedbank are entering a partnership to create a leading Nordic investment bank. Swedbank’s Corporate Finance and DCM High-Yield operations will be incorporated into SpareBank 1 Markets (SB1M), while SB1M will extend its equity research and equity sales to Sweden. Swedbank will take a 20 per cent ownership stake in SB1M, and the latter will change its name to SB1 Markets.
“This is a significant milestone for SB1M. By combining our strengths and markets, we will be able to take our partnership to the next level. Together we will become a truly competitive player on the Nordic market,” says Stein Husby, Chief Executive Officer of SB1M.
SM1M and Swedbank`s strategic partnership began in 2022 through Swedbank’s offer of corporate finance and high-yield services in Norway. This next step is in line with Swedbank’s strategy of driving sustainable long-term growth and improving client offerings through strong partnerships. The banks’ combined resources and distribution will create a range of opportunities for clients in the Nordic region.
“Through this partnership, Swedbank’s corporate clients will gain access to a larger investment bank with deeper sector expertise. They will also benefit from enhanced cross-border capabilities, expanded equity research in Sweden and Norway, and wider distribution through the banks' networks and the Savings Banks alliances," says Bo Bengtsson, head of Corporates and Institutions at Swedbank”.
The jointly owned Nordic investment bank will employ approximately 240 professionals, including about 35 employees from Swedbank’s Corporate Finance and DCM High Yield teams. The business will operate in Sweden, Norway and the United States.
The transaction is subject to approval from the Norwegian financial supervisory authority, and the Swedish FSA has been informed. The collaboration is expected to be operational by the third quarter of 2025. The parties have agreed not to disclose the value of the transaction.
Once the transaction has been completed, SpareBank 1 SMN ownership in SB1M will after the transaction be 31.9 %. SpareBank 1 Sør-Norge, SpareBank 1 Nord-Norge and Swedbank will respectively own 28.1 %, 14.5 %, 20.0 % of SB1M.
The financial effect of the transaction is limited and will not be determined before the transaction is closed, probably September 1st, 2025.
Trondheim, 4 March 2025
Contact persons at SpareBank 1 SMN:
Chief Financial Officer, Trond Søraas, tlf. +47 922 36 803
Executive Vice President, Rolf Jarle Brøske, tlf. +47 911 12 475