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Nordea moves headquarters from Sweden to Finland

Staff Writer |
At the board meeting, the Nordea Bank decided to initiate a re-domiciliation of the parent company from Sweden to Finland.

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All operations in the Nordic home markets will remain unchanged and there will be no change in our day-to-day operations from a customer perspective.

Only a limited number of employees are expected to be affected and Nordea will continue to be a major tax payer in all four home markets.

Nordea’s unique pan-Nordic and international structure has meant that existing national regulatory frameworks do not fully accommodate Nordea’s operating model and recent strategic developments.

Domiciling in a country that is participating in the banking union will mean that Nordea will be subject to the same regulatory framework as our European peers, with greater consistency of application and therefore more of a level playing field.

"The Board's decision to initiate the re-domiciliation of the parent company to Finland is the outcome of six months of careful study and analysis of the competitive conditions and challenges facing Nordea.

"We see the move as an important strategic step in positioning Nordea on a par with its European peers.

"The level playing field and predictable regulatory environment offered by the banking union are, we believe, in the best interest of Nordea’s customers, shareholders and employees," says Björn Wahlroos, chairman of Nordea Bank.

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