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BRIEF-SpareBank 1 SMN: SpareBank 1 Markets moves into asset management
February 27, 2017 / 8:11 AM / 7 months ago

BRIEF-SpareBank 1 SMN: SpareBank 1 Markets moves into asset management

Feb 27 (Reuters) - SpareBank 1 SMN:

* Asset management will be established as new business unit in SpareBank 1 Markets

* New business unit will have combined AUM of about 10 billion Norwegian crowns ($1.20 billion)

* SpareBank 1 Markets acquires Allegro Kapitalforvaltning in Trondheim and Sparebank 1 Nord-Norge Forvaltning in Tromsø from Sparebank 1 SMN and Sparebank 1 Nord-Norge respectively

* SpareBank 1 SMN is largest shareholder in SpareBank 1 Markets, holding 74% of shares Source text for Eikon: Further company coverage: ($1 = 8.3601 Norwegian crowns) (Gdynia Newsroom)

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