SEB has reached an agreement with Volkswagen Financial Services to transfer its car financing operations in Norway.
The operations, conducted within Møller BilFinans, provide car financing to end customers through co-operation agreements with car dealers and are owned jointly by SEB and MøllerGruppen. The business has 31 employees.
The exit decision is in line with SEB’s strategy of focusing its activities on core areas. The transaction is expected to be completed in the fourth quarter of 2009.
A report by broking group Marsh examines the repercussions from the administration of the South Korean company, which filed for bankruptcy protection at the end of August.
Global research by C2FO suggests that smaller businesses are less concerned with the repercussions of Brexit and the upcoming US presidential election.
A squeeze on skilled talent means it now takes an average of seven weeks to fill open permanent roles in finance in the UK according to new research from financial services recruitment firm Robert Half.
Early-stage merger and acquisition deals in Asia-Pacific show nearly 10% year-on-year growth in recent months.