Nordea shareholders approve move to Helsinki

Nordea’s shareholders have voted overwhelmingly to approve moving the company’s headquarters to Helsinki from Stockholm. 95.8% voted for the proposal reports Omni. Folksam put down its vote on the grounds that it is too risky, but the First AP Fund, voted yes. “At the AGM last year we chose a board that has now come to the realisation that a relocation of the headquarters to Finland is best for the bank” said Ossian Ekdahl, at the First AP Fund. Per Bolund (MP), the Minister for Financial Markets, regrets Nordea’s decision to move headquarters from Sweden to Finland, but says the decision should not be over-dramatised: “It is a fairly small number of services that are moving. The majority of Nordea’s operations will continue to be in Sweden” he told TT.

Majority of financial firms believe Nordea moving HQ bad for Stockholm’s image

A new survey shows that nearly 60 percent of companies in the financial sector say that the move of Nordea’s headquarters to Finland has had a negative impact on Sweden’s attractiveness as a financial centre. Only five percent believe that the move can be positive according to a press release from the Stockholm Chamber of Commerce. Demoskop has, on behalf of the Stockholm Chamber of Commerce, interviewed 200 companies in the financial sector regarding their views on a possible relocation of Nordea’s headquarters from Stockholm to Helsinki. “The image is very negative. Having a headquarters for a large company like Nordea has benefited Stockholm and Sweden. The move is likely to weaken the economy and our competitiveness” said Andreas Hatzigeorgiou, Chief Economist at the Stockholm Chamber of Commerce.

 

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Philip Barjami is an editor for Mundus News and a regular contributor to the Monthly Policy Review. Philip holds a BSc in History and International Relations from the London School of Economics (LSE) with First Class Honours and has a Master’s in Middle Eastern Politics from the School of Oriental and African Studies (SOAS) in London. He has previously worked as an interpreter and as a financial analyst, before deciding to become a journalist. He is fluent in English, Swedish and Farsi.