New Products

Swedbank Bonds With Allianz Rosno AM In Russia

Ilya Timofeyev, 14 April 2010

articleimage

Swedbank Russia and Allianz Rosno Asset Management, the Russian-based subsidiary of Allianz Group, have signed a partnership agreement which will expand Swedbank’s wealth management offering to Russian clients.

Under the agreement, Swedbank’s clients will be able to buy the investment products of Allianz Rosno Asset Management in the bank’s Moscow-based offices, the firms said in a joint statement. Swedbank’s offices in St Petersburg and Kaliningrad will join the programme later this year.

“I am sure that our combined forces will help to form a well-timed and clearly structured approach to asset management for the bank’s clients using new opportunities on the stock market,” said Igor Ryabov, head of business development at Allianz Rosno Asset Management.

Swedbank established its onshore presence in Russia in March 2005, when it bought Kvest, the Russian commercial bank. By autumn 2005 the subsidiary started working under its new name Hansabank, Swedbank’s former name. At present, the bank is represented in four Russian cities and provides a full range of services including private banking.

“Thanks to partnership with Allianz Rosno Asset Management, Swedbank is able to increase clients’ investment opportunities,” said Aleksey Aksenov, head of retail business at Swedbank in Russia.

Register for WealthBriefing today

Gain access to regular and exclusive research on the global wealth management sector along with the opportunity to attend industry events such as exclusive invites to Breakfast Briefings and Summits in the major wealth management centres and industry leading awards programmes