STOCKHOLM, March 9 (Reuters) - AMF Pension, a large Nordea owner, said on Friday it would vote against a proposal to move the bank’s headquarters to European Union member Finland from Sweden at the bank’s annual general meeting next week.
Swedish pension company AMF Pension is Nordea’s 8th-biggest owner, with a 1.6 percent stake at the end of last month, according to ownership records on Nordea’s website.
Nordea announced the plan, backed by main owner Sampo , a Finnish insurer, last year, saying it wanted a level playing field with rivals supervised by the European Central Bank.
“It is not our opinion that what has been put forward as the main argument, a lower resolution fee, is sufficient grounds for making such an important decision,” AMF Pension said in a statement.
The proposal needs support from shareholders representing two thirds of votes present at the annual general meeting. Sampo has 21.3 percent and is likely to represent a far higher relative proportion of votes at the meeting since many smaller shareholders choose not to attend.
Reporting by Anna Ringstrom; editing by Niklas Pollard