Handelsbanken Attempts To Step Up Expansion In China

Beginning 1 October, Michael Zell will be the new country manager for Handelsbanken in China. Handelsbanken has been represented in China since 1982. Today, the Bank has branch offices in Beijing, Shanghai and Hong Kong S.A.R. "We were the first

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Beginning 1 October, Michael Zell will be the new country manager for Handelsbanken in China.

Handelsbanken has been represented in China since 1982. Today, the Bank has branch offices in Beijing, Shanghai and Hong Kong S.A.R.

“We were the first Nordic bank to become established in China, and we still have the largest presence there among the Nordic banks. My goal is to increase our lead,” says Michael Zell, who is currently chief executive, Handelsbanken Liv.

Handelsbanken’s domestic markets are the Nordic countries and Great Britain. When the Bank’s customers start business in countries outside these markets, Handelsbanken attempts to accompany them.

“Our customers appreciate this. This is why we can be found in more places in Asia, for example, than any other Nordic bank,” says Pr Boman, president and group chief executive, Handelsbanken.

“Michael Zell was the obvious choice as country manager, given his solid background at the Bank. His selection also demonstrates that we are serious about increasing our objectives in China. Our customers are stepping up their expansion in China, so we are doing the same,” adds Pr Boman.

Michael Zell is one of Handelsbanken’s most experienced managers, with long experience in starting up operations and implementing major changes.

He built up the Bank’s operations in New York in the late 1980s, and he subsequently transformed the former Svenska Finans to a modern finance company that was integrated into Handelsbanken under the name Handelsbanken Finans.

When Handelsbanken acquired Stadshypotek in 1997, Michael Zell was appointed chief executive with the task of quickly integrating the company into the Handelsbanken Group. He was later appointed head of Handelsbanken’s largest regional bank at the time – Regional bank Central Sweden. In recent years, he has been head of the Bank’s insurance operations and was one of the key personnel responsible for the successful sale of SPP last year.

Michael Zell is currently chief executive of Handelsbanken Liv. No successor has been appointed yet.

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