SEB Asset Management America may be bought out by its CEO, Anders Ekernas, and 23 employees. The group is negotiating with parent SEB Asset Management; shareholders of Skandinaviska Enskilda Banken will vote April 9 on whether to sell the unit. No terms have been set.
"It is a very small part of our strategy, and it has no synergies with the rest of our asset management business, with what we are doing in the Nordic countries, Gunilla Wikman, SEB spokeswoman, said.
"As conceived right now, there wont be any outside investors, Mr. Ekernas said.
SEB Asset Management America has $2 billion in assets under management, primarily in U.S. small-cap equities and U.S. government bonds.