Talking with Treasurers
In March 2010, SEB hosted a Financial Summit attended by 50 CFOs and Group Treasurers from top Nordic corporations. As part of its commitment to continuing and deepening the dialogue with corporate treasurers, SEB recently organised a roundtable discussion on the topic of operational efficiency, attended by treasurers from Ericsson, Holmen, Niscayah and ASSA ABLOY.
Bo Magnusson, Deputy Chief Executive Officer and Head of Group Staff and Business Support at SEB, opened the discussions with an overview of what SEB has accomplished in the area over the past four years and how these developments are directly benefiting its corporate clients. Amongst other things, Magnusson talked about the creation of centralised group functions for operations, IT and other staff functions, which have resulted in savings of SEK 1.5bn. He also explained how SEB has outsourced parts of its operations and off-shore key back-office processes to centralised units in Latvia and Lithuania and the benefits that have ensued,
“Looking back at the journey we started four years ago, we have accomplished a lot, even if much still remains to be done. In addition, we will continually strive to be more customer-focused and think ‘outside-in’ in developing our strategy and devising customer solutions.”