Executive summary

Handelsbanken Group announced the sales of part of its Finland operations to S-Bank, Oma Savings Bank and Fennia Life on May 31st 2023. BearingPoint has had the privilege to play a key advisory role in this complex deal process and will continue to support the completion of the remarkable deal. The transaction is expected to be finalized during the second half of 2024.

Handelsbanken’s Finnish operations sold to three locally operating parties

BearingPoint has supported Handelsbanken Group in selling parts of its Finnish operation to S-Bank, Oma Savings Bank and Fennia Life. As communicated May 31st 2023, private customer, asset management and investment services operations will be sold to S-Bank, small and medium-sized enterprise operations to Oma Savings Bank and life insurance operations to Fennia Life. The transaction is expected to be finalized during the second half of 2024.

BearingPoint continues to support Handelsbanken Group with selling the remaining parts of its operations and ensuring a successful completion of the deal as communicated earlier.

BearingPoint as a trusted partner in deal preparation and completion

BearingPoint has been supporting Handelsbanken Finland in key program lead and project manager roles since 2018. As Handelsbanken Group announced to sell its Finnish operations in 2021, BearingPoint was seen as a natural partner for cooperation. The deal process has been driven by an experienced team of advisors from various functional areas, including Operations, Non-financial Risk Management, Data Management, Project Management & IT integrations. BearingPoint advisors have had a key role in determining the scope of the transaction, planning the separation activities and designing a roadmap for to-be integrations.

BearingPoint has played an essential role in this complex deal setting and we look forward to continuing the deal process together until completion with the same excellence and commitment that we have seen throughout this journey.

Sirpa Pensas, SVP at Handelsbanken Finland, Project Sponsor

About Handelsbanken

Founded in 1871, Handelsbanken headquartered in Stockholm Sweden, is one of the world’s strongest banks with its roots in local communities and trusting relationships. Handelsbanken home markets are in Sweden, Norway, the Netherlands and the UK.

More information

Philip Relander
BearingPoint Finland
Tel. +358 50 571 7338

Henri Unonius 
Program Lead
BearingPoint Finland
Tel. +358 50 534 0191

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