ABG Sundal Collier and Nordnet to Form Nordic Private Banking Joint Venture
The two Nordic groups will combine advisory, discretionary portfolio management and research with a digital investment platform in an evenly owned venture, with a Swedish roll-out planned for 2027 pending regulatory clearance.
ABG Sundal Collier and Nordnet have announced plans to create a jointly owned private banking company, bringing together the investment bank's advisory, discretionary portfolio management and research operations with Nordnet's digital investment platform. Ownership is to be split evenly between the two groups.
Structure and leadership
The board is to be divided equally between the partners, with the addition of one independent director. Jonas Ström, former chief executive of ABGSC, has been named chair, while Martin Ringberg, previously Nordnet's country manager in Sweden, will head the business as CEO.
The company will be formed around ABGSC's current private banking activities and expertise. At launch, it is expected to employ about 15 to 20 people.
The venture is built on ABGSC's existing private banking arm, with a Swedish roll-out scheduled for 2027 pending regulatory clearance.
Why the two sides frame it as complementary
Nordnet operates a Nordic savings and investment platform covering share dealing, funds, pensions and lending, alongside digital decision-support tools. Nordnet CEO Rasmus Järborg said the group aims to expand significantly within the segment of clients seeking advisory and portfolio management services, and that it had found the right partner in ABGSC. He described the combination as joining Nordnet's leading digital platform with ABGSC's expertise in research and portfolio management.
ABGSC is an independent Nordic investment bank with an existing private banking arm focused on advisory services, discretionary management and research. Interim CEO Kristian B. Fyksen said the firm had for some time considered how to unlock the full potential of its private banking franchise, and that its strategy is to focus ABGSC's resources on areas where it has clear strengths.
Timing and geographic ambition
A roll-out in Sweden is scheduled for 2027, pending regulatory clearance. After that Swedish expansion, the partners expect to extend the model gradually across the Nordic region and in other countries where they already have operations.
The arrangement places advisory-led private banking alongside a digital platform at a time when both distribution and portfolio management are central to how wealth services are delivered. The stated intent is to combine the two models rather than run them separately: ABGSC contributes research, advice and discretionary management, while Nordnet contributes the platform through which clients engage.
For clients and advisers watching the Nordic private banking landscape, the key markers are the regulatory clearance, the formation of the business around ABGSC's existing activities, and the planned extension beyond Sweden once the initial roll-out is complete.
