March 12, 2018 / 9:37 AM / 2 months ago

Swedbank Robur says to support Nordea HQ move to Finland

STOCKHOLM, March 12 (Reuters) - Swedbank Robur, a large Nordea owner, said on Monday it would vote in favour of a proposal to move the bank’s headquarters to Finland from Sweden at the lender’s annual general meeting on Thursday.

Mutual fund manager Swebank Robur, wholly owned by Swedbank , is Nordea’s fourth biggest owner, with a 2.5 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. Unlike Sweden, Finland is a member of the European banking union.

Alecta, the third largest Nordea owner with a 2.9 percent stake, would also support the move, a spokesperson told Swedish daily Dagens Nyheter. Alecta was not immediately available for comment.

AMF Insurance & Funds, Nordea’s 8th-biggest owner with a 1.6 percent stake, last week said it would vote against the proposal.

Reporting by Olof Swahnberg; editing by Niklas Pollard

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