Handelsbanken has been appointed custodian for Tapiola Group.
Tapiola Group consists of four mutual insurance companies: Tapiola General, Tapiola Life, Tapiola Corporate Life and Tapiola Pension. It also includes Tapiola Asset Management Ltd. and Tapiola Bank Ltd.
The total assets under management amount to approximately 10 billion, of which 5,5 billion account for Tapiola Pension’s assets.
“We were very satisfied with the way Handelsbanken planned and organized this whole transfer operation. We could rely 100% on their expertise and high level of professionalism on every market”, says Tarja Asula, manager, Tapiola Asset Management Ltd.
“The addition of Tapiola, a strong participant on the Finnish market, to our client base continues to strengthen our commitment to develop products, technology and customer service to meet the markets needs,” adds Luciana Pacor-Hygrell, head of Handelsbanken Nordic Custody.
Handelsbanken is one of the leading banks in the Nordic region with total assets of SEK 1,790 billion and profits of SEK 17.2 billion in 2006.