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Nordea forms new asset management division

DENMARK – Copenhagen based financial group, Nordea, has formed a new asset management and life assurance business, Nordea Asset Management & Life, which itself will be subdivided into six business units.

The six subdivisions are investment management, life and pensions, investment funds, long term savings and life, Nordic private banking and European private banking. In addition, the life and pensions unit is to be marketed under the Nordea brand.

Christian Clausen will head the new department, which includes Tryg Pension in Denmark, Vesta Pension in Norway, Livia in Sweden, Nordea Life in Finland, Nordea Zycie in Poland and other activities in Luxembourg and the Isle of Man.

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