Fredrik Sauter has been appointed CEO of Banque Invik. The Luxembourg-based bank is a wholly-owned subsidiary of Swedish firm Scribona which is changing its name to Catella.
Fredrik Sauter has been appointed CEO of Banque Invik. The Luxembourg-based bank is a wholly-owned subsidiary of Swedish firm Scribona which is changing its name to Catella.
Sauter was most recently CEO of Skandiabanken and held prior executive positions at Danske Bank's Swedish business.
The bank will be integrated into the new Catella group which is being created following Scribona's recent acquisition of the Catella Group. The recruitment of Fredrik Sauter is part of this process and the first step of the revival of Banque Invik in the Nordic market, the company said. Catella is active in financial advisory and asset management.
Stockholm-listed Scribona AB will change its name to Catella AB at an Extraordinary General Meeting on 15 October.
'We are very pleased having Fredrik as new CEO of Banque Invik. Fredrik has valuable experience which will be useful for the group. Banque Invik will have an important role in the new group regarding the distribution of financial products and services,' said Johan Ericsson, CEO of Scribona/Catella Group.
Ericsson told PropertyEU that the group now has assets under management of some EUR 4.5 bn. 'Our business has traditionally been equally divided between property advisory, asset management in property, stocks and bonds. We have five dedicated open-ended German property funds focussing on the Nordics, residential property, German healthcare, commercial property in Munich and Forestry. Our funds are developing very well: we have increased their volume by 30% so far this year to EUR 800 mln.'
