DIRS.INFO top alerts submit data jurnalism about API
login
Top related persons:
Heimstaden Bostad - 1 Alecta - 1 Christian Dreyer - 1 Karolina Ekholm - 1 Heimstaden's Dreyer - 1 we're - 1 Dreyer - 1 Niklas Wykman - 1
Top related locs:
STOCKHOLM Nordic Stockholm Berlin Sweden Heimstaden Germany Gdansk
Top related orgs:
International Monetary Fund - 1 GOVT - 1 Sweden's - 1 Financial - 1 SBB - 1 Danske Bank - 1 Thomson - 1

Search resuls for: "Alecta"


3 mentions found


☆ Sweden braces as property storm clouds darken
  + stars: | 2023-09-15 | by ( John O'Donnell Marie Mannes | John O'Donnell | Marie Mannes | ) www.reuters.com   time to read: +5 min
Swedbank estimates the current shortfall for Heimstaden Bostad could be roughly 30 billion crowns ($2.7 billion). Sweden's financial regulator launched an inquiry into why and how Alecta had invested $4.5 billion in the property giant, in the first place. "If interest rates continue to rise and it's coupled with unemployment, that's what we are afraid of." With interest rates still climbing, analysts such as Marcus Gustavsson of Danske Bank, believe the worst is not yet over. "With rising interest rates, that funny money has turned into real money and it is painful."
Persons: Heimstaden Bostad, Alecta, Christian Dreyer, Karolina Ekholm, Heimstaden's Dreyer, we're, Dreyer, Niklas Wykman, Heimstaden, David Perez, Marcus Gustavsson, Andreas Cervenka, Sweden, Simon Johnson, Johan Ahlander, Greta Rosen Fondahn, Chiara Elisei, John O'Donnell, Hugh Lawson Organizations: International Monetary Fund, GOVT, Sweden's, Financial, Reuters, SBB, Danske Bank, Thomson Locations: STOCKHOLM, Nordic, Stockholm, Berlin, Sweden, Heimstaden, Germany, Gdansk, London
☆ Sweden's Alecta axes CEO after US bank losses
  + stars: | 2023-04-11 | by ( ) www.reuters.com   time to read: +2 min
OSLO/STOCKHOLM, April 11 (Reuters) - Swedish pension fund Alecta on Tuesday fired its CEO Magnus Billing with immediate effect following the recent announcement of large losses from investments in several U.S. banks. Alecta, Sweden's largest pension fund provider, last month said it had lost 19.6 billion Swedish crowns ($1.87 billion) from its shareholdings in First Republic Bank (FRC.N), Silicon Valley Bank and Signature Bank. "The losses have severely damaged the trust in Alecta's asset management," the company said in a statement. "The board has concluded that Alecta needs new leadership in order to implement the necessary changes within the asset management and re-establish trust." The pension provider last week announced the replacement of its head of stock market asset management.
☆ U.S. bank woes no threat to Swedish financial system, watchdog says
  + stars: | 2023-03-13 | by ( ) www.reuters.com   time to read: +2 min
OSLO, March 13 (Reuters) - The collapse of Silicon Valley Bank (SVB) and some other U.S. banks is unlikely to impact Sweden's financial stability, Sweden's financial watchdog said on Monday. While the U.S. banking market was hit by a degree of turbulence, Swedish banks are regulated more tightly to ensure liquidity buffers are in place and balance sheets are protected, it added. "Our assessment is however that the stability of the Swedish financial system is not affected by this," acting FI Director-General Susanna Grufman said. Pensions group Alecta has around 12 billion Swedish crowns ($1.12 billion) in investments in Silicon Valley Bank and Signature Bank (SBNY.O), news agency TT reported. "Up to now we do not see any spread of the effects into the Swedish financial system," Wykman told Reuters.
0 next >>
Total: 3