Stockholm-based SEB is moving a long-time manager from Asia to Germany to take over its private wealth and family office branch in the fall, according to a statement from the bank on Friday.

Established in 2022, SEB's unit will focus on those segments in the DACH region comprising Germany, Austria, and Switzerland and will be headed by Thilo Zimmerman. In addition to those duties, he will also head investment banking for the three countries.

Executive Board

Zimmerman will join the German office from Shanghai where he spent four years and was the general manager of SEB's office there, mainly serving corporate clients from the home market in China.

In Germany, he will also become part of the banks management team.