SOLNA, Sweden, June 1, 2018 /PRNewswire/ --In order to ensure that Catella Bank's various operations get the best possible conditions for development, and to achieve operational efficiency and optimized capital structure for the Catella Group, a strategic review has been initiated.
Currently, consolidation is taking place in Wealth Management in Luxembourg, where Nordic actors are leaving, creating a need for customers to find a counterparty who can understand and meet their demands. Catella intends to evaluate solutions to create optimal conditions to meet the customer needs and for continuing to operate in the Wealth Management-segment, through partnerships, or other types of collaborations, within the framework of a structure that does not bring about a consolidated situation for the Catella Group.
The current structure means that the consolidation of Catella Bank in the Catella Group entails extensive capital and regulatory requirements for operations outside of Catella Bank, which in turn affects the cost- and capital structure.
"Catella has grown its Wealth Management business rapidly in recent years. We have invested in skilled employees and, through cooperation with other parts of Catella, created attractive exposures and a high quality offer which is much appreciated by investors and customers. This business must be conducted through a structure that ensures customer needs and is effective from a cost- and capital perspective for the Group," says Knut Pedersen, CEO of Catella.
In connection to the review of the structure it is natural to ensure, for continued growth, that the card issuing operations have an efficient operating platform. Work has begun, together with the business area management, to create the necessary conditions, and evaluate the structure, for the business.
Catella has previously announced that a strategic review of Catella Bank's card acquiring operations is ongoing and is expected to be completed during the coming quarter.
For more information, please contact:
Knut Pedersen
CEO and President
+46-8-463-33-10
knut.pedersen@catella.se
Press contact:
Jonas Burvall
Head of Group Communications
+46-8-463-33-05, +46-766-27-97-55
jonas.burvall@catella.se
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SOURCE Catella
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