Swedbank has formed a Investment Banking unit within the business area Large Corporates & Institutions and has named Jorgen Ulvness as the head of the unit.

Swedbank said that the new unit is another step towards reaching the ambition to create a more complete Nordic and Baltic customer offering for corporates and institutions.

As part of Swedbank’s focus on the newly formed business area Large Corporates & Institutions (LC&I), Swedbank recently acquired the remaining 49% of the Norwegian investment bank First Securities.

As part of integrating the parties, LC&I is making a number of organizational changes that include forming a new Investment Banking unit, comprising Equities, Equity Capital Markets and Corporate Finance units, which will be headed by UIvness.

LC&I head Stefan Carlsson said that the new organization will have a higher customer focus than previously and at the same time be better able to obtain synergies which will make us more efficient and adaptable in the Swedbank service offering.

"I’m very happy that Jorgen UIvness will lead our new effort within Investment Banking, especially considering the fine development that First Securities has had under his leadership," Carlsson said.