The Swedish Swedbank banking group has transferred a significant portion of its investment fund and investment portfolio administration services to a branch in Vilnius.

To read this article, try a €5.99 monthly subscription by clicking here.
© DELFI / Mindaugas Ažušilis

Currently, this Lithuanian branch of the group's Swedbank Robur Fonder company, which was established in Vilnius in May, employs almost 50 specialists.

Three Swedbank Robur Fonder branches have been transferred to Vilnius to offer services to institutional clients in Sweden and the group's pension and investment funds in Sweden, Latvia and Lithuania. According to Tadas Gudaitis, director of Swedbank Investment Management in Lithuania, no further expansions are currently planned.

“We are taking one more significant step towards expanding the boundaries of our skills. The relocation of the investment fund administration branch will allow Lithuania's financial specialists to gain new skills, valuable experience with working in an international environment, and give them additional professional development opportunities,” said Dovilė Grigienė, the head of Swedbank's Lithuanian bank.

The relocation of services to Lithuania, Latvia and Estonia is said to be a part of Swedbank's strategy.

In March of this year, Swedbank also announced it would be establishing a non-financial service branch in Lithuania. This branch currently employs 150 people, but there are plans for the number of employees to grow to over 400 over the next few years.

New trends in startup world: unicorns' aspiration is not key anymore

The question when the first unicorn with over 1 billion of US dollars in value will appear in the...

Shopping frenzy: biggest retail chains plans allocate millions of euros for new stores

Lithuania's five biggest retail chains – Maxima , Lidl , Rimi, Iki and Norfa – have...

Construction launched on EUR 15 mln hotel in Kaunas

Construction is being launched on a 15-million-euro Moxy hotel, part of the Marriott Group , in...

Revolut moves operation launch date in Lithuania (1)

The United Kingdom's fintech startup Revolut has moved the operation launch date of its specialized...

“Shazam” co-founder before his visit in Lithuania: it will be new experience

You need to fail and learn many lessons before you finally reach your success. This can be proved by...