Skandia pushes branch openings in Sweden

Skandia in Sweden has opened a new branch office in Ängelholm to improve access to qualified advice for long term savers, as part of the mutual’s plans to boost its local presence.

Skandia has comitted to open 10 new branches through 2012 as part of its plans to take on the country’s big banks with its new mutually owned structure, following the sale of the Swedish business by previous owner Old Mutual.

“We recently opened in Helsingborg and together the two branches will employ some 10 staff. We will offer qualified advice in everything from pensions planning and long term savings to banking solutions and health insurance,” said Mathias Olivestedt, adviser and partner in Ängelholm.

The new branch will serve both retail and business customers.

Louise Sander, sales head at Skandia, said that there were many “white spots” on the map of Sweden where customers have no choice but to use one of the big banks with a local branch, or where there are niche businesses offering limited services.

The pan-Nordic Skandia has some 2.2 million customers in Sweden, Denmark and Norway, with total assets under management across its banking and insurance businesses of SEK440bn (€51bn)

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