Pretax profit dives 24 percent at Danske's wealth management unit

The road has been rough for Danske Bank's wealth management arm in the first half. Integrating SEB Pension Denmark has come at a cost and the aftermath of MiFID II has also left a mark, the head of wealth management, Jacob Aarup-Andersen, tells AMWatch.

by LYKKE OGSTRUP LUNDE

Three things stand out from a glance at the latest interim report of Danske Bank's wealth management unit: Costs are up, net trading income is down and SEB is playing a lead role in the second quarter.

Already a subscriber?Log in here

Read the whole article

Get access for 14 days for free. No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

With your free trial you get:

Access all locked articles
Receive our daily newsletters
Access our app

Get full access for you and your coworkers

Start a free company trial today

Danske Bank AM: Handling risk is our competitive edge for the future
For subscribers
Fund Selection head quits Danske Wealth Management
For subscribers
Danske Bank loses high-profile private banking executive
For subscribers

Sign up for our newsletter

Stay ahead of development by receiving our newsletter on the latest sector knowledge.

Newsletter terms

Front page now

Foto: Agustin Marcarian/Reuters/Ritzau Scanpix

Responsible Investing

AP2 teams up with think tank to identify deforestation exposure in global portfolios

A collaboration between Swedish buffer fund AP2 and think tank Climate & Company aims to offer other investors a guideline to identify potential exposure to deforestation.

For subscribers

Fund Management

Loss-making trading platform plans to delist

For subscribers

Charlotte Mansson (left) and Elisabeth Sterner are BlackRock's head of sustainable & transition solutions, Nordics and Netherlands, and head of Nordics, respectively. | Foto: BlackRock PR / Jeppe Carlsen / Håkan Målbäck

Responsible Investing

BlackRock: High number of US investors plan to increase allocation to green transition

For subscribers

Pension

Despite predicting more losses, Alecta is prepared to increase Heimstaden investment

For subscribers

"The market has been much weaker than we predicted," says Storebrand AM's head of real estate, Truls Nergaard, about the last couple of years. | Foto: PR

Fund Management

Asset management giant in the wake of the crisis: Foreign investors are looking to the Nordics again

For subscribers

GENDER BALANCE: It takes time to achieve gender balance "and it must take time. Promotions must be fair," says NBIM CEO Nicolai Tangen. | Photo: Synnøve Prytz Berset

AMNews

Nicolai Tangen is a huge fan of the Women in Finance Charter but stresses that promotions must be fair

For subscribers

Startup bets wood can make wind turbines even greener
Swedish startup Modvion is building a wind turbine tower out of wood, aiming to reduce the carbon footprint by more than 90%.
For subscribers
Pension funds abandon dialogues with oil majors and divest shares
Engaging in a dialogue with climate-harming oil and gas companies does not help, says AkademikerPension, among others. PFA holds the opposite view.
For subscribers
Analysis: Will Nordic investors take the lead in the battle of biodiversity?
Investors have increased their focus on biodiversity, though it is a complex area. Could some of the major Nordic investors become frontrunners of such complex problem-solving?
For subscribers
Swedish asset manager kicks off new fund with leading Nordic institution
Demand from institutional investors has prompted Coeli to launch a new Article 9 fund focused on US-small cap companies.
For subscribers
More than one third of managers do not report ESG violations to Varma, despite shared values
In a fresh survey by Varma, only 62% of fund managers employed by the pensions giant say they would inform the company about violations of ESG principles.
For subscribers
Danish FSA criticizes investment funds for inadequate evaluation between costs and returns
The Danish FSA has investigated seven investment funds with unsatisfactory returns and/or high costs, and the authority now calls for better evaluation from the boards of mutual funds.
For subscribers

Asset management giant in the wake of the crisis: Foreign investors are looking to the Nordics again

Transactions in the Nordic real estate markets are moving again. ”It’s getting crowded,” says Storebrand AM’s head of real estate, Truls Nergaard.

For subscribers

Responsible Investing

BlackRock: High number of US investors plan to increase allocation to green transition

More than half of the institutional investors polled in a new BlackRock survey are planning to increase their low-carbon allocation. In the Nordic region and the US, the percentage is even higher.

For subscribers

Olivier Van Eyseren, head of BlackRock’s financial institutions group in EMEA, and Jon Valdelin, head of Nordic institutional client business at BlackRock. | Foto: PR BlackRock.

AMNews

Nordics show clear appetite for new asset classes, BlackRock survey reveals

Nearly 70% of Nordic respondents in BlackRock’s survey are looking to invest in clean energy infrastructure, says Jon Valdelin, head of institutional client business for Nordic Region at BlackRock.

For subscribers

Responsible Investing

AP2 teams up with think tank to identify deforestation exposure in global portfolios

A collaboration between Swedish buffer fund AP2 and think tank Climate & Company aims to offer other investors a guideline to identify potential exposure to deforestation.

For subscribers

From top left to bottom right: Petri Niemisvirta, CEO at Mandatum Group, Jan Erik Saugestad, CEO at Storebrand Asset Management, Magdalena Wahlqvist Alveskog, CEO of Handelsbanken Fonder, Masih Yazdi, Chief Financial Officer at SEB, Ralf Magnussen, CEO at Nykredit Asset Management, Snorre Storset, head of Nordea Asset & Wealth Management, Lars Bo Bertram, CEO at BankInvest, and Håkon Hansen, head of DNB Wealth Management. | Foto: Pr / Mandatum, Storebrand, Handelsbanken, Seb, Nykredit, Nordea, Bankinvest and Dnb.

Fund Management

Mandatum, Handelsbanken and Storebrand were the real winners of Q2

In AMWatch’s comparison of the Nordic asset managers, we take a closer look at net flows and what the managers see as drivers behind them in Q2 and the first half of 2023.

For subscribers

Fund Management

Loss-making trading platform plans to delist

NORD.Investments, which offers robotic investment advice, may soon be a thing of the past at small business exchange First North, where the company was listed in 2021.

For subscribers

Jobs

See all jobs

Pretax profit dives 24 percent at Danske's wealth management unit

Read the whole article

With your free trial you get:

Get full access for you and your coworkers

Share article

Related articles:

Danske Bank AM: Handling risk is our competitive edge for the future

Fund Selection head quits Danske Wealth Management

Danske Bank loses high-profile private banking executive

Sign up for our newsletter

Front page now

AP2 teams up with think tank to identify deforestation exposure in global portfolios

Loss-making trading platform plans to delist

BlackRock: High number of US investors plan to increase allocation to green transition

Despite predicting more losses, Alecta is prepared to increase Heimstaden investment

Asset management giant in the wake of the crisis: Foreign investors are looking to the Nordics again

Nicolai Tangen is a huge fan of the Women in Finance Charter but stresses that promotions must be fair

Startup bets wood can make wind turbines even greener

Pension funds abandon dialogues with oil majors and divest shares

Analysis: Will Nordic investors take the lead in the battle of biodiversity?

Swedish asset manager kicks off new fund with leading Nordic institution

More than one third of managers do not report ESG violations to Varma, despite shared values

Danish FSA criticizes investment funds for inadequate evaluation between costs and returns

Further reading

Asset management giant in the wake of the crisis: Foreign investors are looking to the Nordics again

BlackRock: High number of US investors plan to increase allocation to green transition

Nordics show clear appetite for new asset classes, BlackRock survey reveals

AP2 teams up with think tank to identify deforestation exposure in global portfolios

Mandatum, Handelsbanken and Storebrand were the real winners of Q2

Loss-making trading platform plans to delist

Jobs