Handelsbanken Fonder, the asset management arm of the Swedish headquartered financial services and banking group Handelsbanken, is to split its operations into two separate companies as well as set in place a new board.
The split will separate the operations of actively mangaged funds and index funds. As of 1 January 2016, the active funds will be offered by Handelsbanken Fonder AB, while index and ETF funds will be offered by Xact Kapitalförvaltning AB.
Currently both companies have boards made up of the same members. However, going forward they will have different members, which means a new board will be appointed for Handelsbanken Fonder.
Those appointed include Katja Bergqvist (pictured). She will be chair of Handelsbanken Fonder; she is currently chief executive of Handelsbanken Fonder, but will step down from this role when she takes over as chair. Current chair Olof Lindstrand will remain in that position until Bergqvist takes over. An executive search is under way to find a new CEO for the fund provider.
Other appointments to Handelsbanken Fonder’s board, which take effect immediately, include Malin Björkmo, Helen Fasth Gillstedt, Lars Seiz. All three will be independent directors. Robert Lundin continues in his role on the board as an employee representative.
As a fund provider, Handelsbanken Fonder currently offers seven ETFs under the Xact brand. All are listed on the Nasdaq OMX Stockholm.