Jul
22
Nordea’s $356 Billion Wealth Management Unit Is Hit by Outflows
ByThe wealth management unit of Nordea Bank AB will struggle to reach a target of generating as much as 5 percent in net new money this year after a tough first half, according to its head, Snorre Storset.
“We have a long-term target of net flows with 4-5 percent growth from the start of the year,” Storset said in an interview in Oslo on Thursday. “It’s obvious this year that it will be difficult to reach that goal due to a good deal of outflows in the first half. But underlying, we have the same potential. So long-term, 4-5 percent is still realistic.”…
Nordea’s $356 Billion Wealth Management Unit Is Hit by Outflows
