Luxembourg
Nordea retreats to Nordic market with sale of private-banking unit
Nordic bank sells parts of international private-banking business to UBS, leaving 200 local jobs at risk
Nordic banking group Nordea, after offloading one of its units in Luxembourg, will be left without any real international private-banking exposure, confining its scope for wealth-management services to the Scandinavian market.
Nordea announced in late January, after reviewing its international private-banking business, that it would sell its Luxembourg-based private-banking hub to Swiss group UBS.
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