Swedish Private Bank Enters Agreement With Ernst And Young Baltic

Ainhoa Barcelona

13 May 2013

SEB Private Banking, part of Sweden’s SEB Group, has concluded an agreement with Ernst and Young Baltic that will affect its Latvia, Lithuania and Estonia branches.

The agreement aims to provide SEB clients with information on legislative issues, as well as offer consultations and advice on tax and legal issues, the firm said in a statement.

When selecting who to collaborate with, head of SEB Private Banking in Latvia, Aija Miķelsone said: “We evaluated if the partner was recognised as an expert in the industry, if the company had a wide network of representative offices in the world, providing wide knowledge of national legislation and their interactions, as well as whether the company had a good reputation and worked in line with SEB values. We are pleased that our customers will be served by Ernst and Young Baltic professionals."

In response, Ernst and Young Baltic representative Ilona Butāne said: “Our task will be to sustain SEB Private Banking’s success with smart advice on how to act in a changing legal environment, while considering its clients' individual priorities.”

Consultations for these clients in all three Baltic countries will be presented in a bespoke price list.

SEB Group, which operates in 20 countries and has approximately 16,500 employees, had SEK1.3 trillion ($209 billion) assets under management as at 31 March 2013.