“Market Cap $1.92 B As of May 2014
At a Glance
- Industry: Regional Banks
- Founded: 1970
- Country: Denmark
- CEO: Karen Froesig
- Website: www.sydbank.dk
- Employees: 2,133
- Sales: $981 M
- Headquarters: Aabenraa
#1963 Global 2000
- #815 in Assets
Sydbank A/S engages in the provision of commercial banking products and services. It operates through the following segments: Banking, Asset Management, Sydbank Markets, Treasury, and Other. The Banking segment serves all types of retail and corporate clients. The Asset Management segment provides advisory and management services to institutional clients on investment funds and hedge funds, funds, pooled pension plans, and portfolio management. The Sydbank Markets segment covers all activities in the financial markets which include trading in interest rate products, foreign exchange, and shares. The Treasury segment manages strategic interest rate, foreign exchange, and equity positions. The Other segment includes non-recurring items, contribution to the Private Contingency Association, and activities of the executive management. The company was founded in 1970 and is headquartered in Aabenraa, Denmark.“
In 1970’s voksede antallet af Sydbank-afdelinger til 50 – alle i Sønderjylland – indtil Sydbank i 1976 gik over Kongeåen og åbnede en afdeling i Fredericia.
In 1980 Sydbank grew strongly. In 1983 Sydbank opened office at Kongens Nytorv in Copenhagen and merged that year with the Aarhus Bank – and in 1984 with Fuen Bank, Co-established bank with a branch in Flensburg and subsidiary SBK-Finance. In 1985 came a branch in Hamburg. In 1987 founded Sydbank Investment branch Sydinvest and the bank took over parts of the Copenhagen 6th July Bank, which had gone into receivership in March of that year. In 1988 took over Sydbank Community Bank branches in Copenhagen. In 1989 bought Sydbank DMK-Holding. The bank went out of the 1980s with a market share of just 2 percent., 70 branches and 1,400 employees.
Sydbank merged in 1990 with Sparekassen South Jutland. When completing the Varde Bank took over Sydbank with effect from 1 January 1994 most of the bank’s activities, including 30 West Jutland departments. In May 1994 bought Sydbank Active Bank and hence 40 East Jutland sections from Topdanmark.
After the 2000 millennium has Sydbank marked on a thriving, growing, robust and velindtjenende bank that is now almost nationwide. Sydbank took Odense Bank Egnsbank Funen during 2002 and has since established branches in central Jutland and Sealand. Moreover Sydbank opened in 2002 daughter bank Sydbank (Schweiz) AG in St. Gallen in Switzerland. In 2007 sold Sydbank DMK-Holding to ebh bank and opened a department-ment in Kiel. In 2008 took over Sydbank Zealand Banking Trelleborg, headquartered in Slagelse. Sydbank is now one of Denmark’s largest full service banks based in Southern Jutland and headquartered in Aabenraa. The Bank has a market share in the sector at around 7 percent, approximately 2,600 employees and 115 branches – including three in Germany. The Executive Director since 1982 Carsten Andersen. The Board is in addition to Carsten Andersen: Karen froze, Preben Lund Hansen and Allan Nørholm. Sydbank board consists of: President Kresten Philipsen, Vice Chairman Donald Thoustrup, Otto Christensen, Peder Damgaard, Peter Gaemelke, Hanni Toosbuy Kasprzak, Sven Rose Meyer Paulsen, Per Olesen (elected by employees), Jan Uldahl-Jensen (elected by employees), Margaret Weber (elected by the employees) and Harry Max Friedrichsen (elected by employees).”
*Information from Forbes.com and Wikipedia.org
**Video published on YouTube by “Sydbank Social“