Nordea Bank Abp to be treated as a Financial Holding Company in the US

Helsinki – Nordea Bank Abp will be treated as a Financial Holding Company (FHC) under the US Bank Holding Company Act, following a declaration submitted to the Federal Reserve Board of Governors. This designation allows Nordea to expand its offerings to Nordic clients seeking access to US capital markets.

The new status permits Nordea to participate in securities offerings into the United States. Philip Asp, Head of Investment Banking & Equities at Nordea, stated that the designation provides flexibility to support clients with US-related transactions. "It places us in a great position to increase our relevance, seize new opportunities and support our Nordic clients with their overall capital needs," Asp said.

Nordea has maintained a US presence for over 40 years, including its New York Branch, which primarily serves Nordic companies and select US firms with Nordic connections. The FHC status broadens Nordea's permitted business activities in the US, including leading securities offerings in the US marketplace.

This classification does not alter Nordea's corporate structure or involve the establishment of new entities. It represents an additional designation from the Federal Reserve. Nordea's US activities will be facilitated through its affiliated SEC-registered broker-dealer, pursuant to SEC Rule 15a-6, where required by applicable law or regulation.