Shift to quantitative management could see SEB managers depart

More managers could be following Peter Norhammar out of the door at SEB in Sweden following the decision by the bank’s asset management business to apply more quantitative management.

Local business daily Affärsvärlden says that Norhammar’s departure followed a change in the way the SEB Sverigefond and SEB Swedish Focus Fund are managed. Now other funds are reportedly under review, including Global chans/risk and Stiftelsefond Utland.

Thor Udenaes, Henrietta Theorell, Hans Johnsson and Magnus Högström are mentioned as managers who have worked on the two aforementioned funds. the paper said they are now waiting to hear if they may be given other duties within SEB, or have to look around for new jobs.

Global chans/risk and Stiftelsefond Utland were handed to Christian Darenhill at the end of January this year.

The paper quotes a spokesperson for SEB Wealth Management as stating more funds may be developed for the Quantitative Portfolio Management team, but not currently.


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