Starting July 1, 2025, the first Nordic Hub will begin operations near Paradeplatz in Zurich. The hub will feature a workspace for clients, including a reception area and meeting rooms. The offering will be complemented by administrative and strategic services as well as exclusive events.

«Our vision is to establish a Nordic network, a Nordic community in Switzerland, with Zurich as its hub. Over time, we aim to develop the Nordic Hub into a central platform for investments in the Nordics,» says Alain Reimann.

Alain Reimann in Front of the Nordic Hub Headquarters on Freigutstrasse in Zurich. (Image: Provided)

Reimann wears multiple hats: He leads «1856 Family Offices», which operates the Nordic Hub, while also representing SEB in Switzerland. SEB owns 1856 Family Office and, consequently, the Nordic Hub.

Proven Model Successfully Implemented Abroad

SEB intends to leverage the Nordic Hub as part of its planned representative office in Zurich, which was announced last year. This means that SEB, through 1856 Family Office, will offer non-financial services in Zurich, while private and family office clients will continue to access banking services through SEB’s International Business unit in Luxembourg or its home markets in the Nordics.

Swiss corporate clients, who are primarily served by SEB branches in Frankfurt and Munich, will also benefit from the new local presence in Zurich.

Does this mean that only SEB clients can use the co-working space? «We aim for a diverse mix. Being an SEB client is not a requirement,» Reimann emphasizes, pointing out that the same concept has already proven successful in Sweden with 1856 Family Office. «Switzerland is the next location where we are rolling out this model,» he adds.

SEB’s Renewed Push Into Switzerland

This is not SEB’s first attempt to establish a foothold in Switzerland. In the 1980s, the bank had a branch in Geneva before withdrawing from the market. In the early 2000s, SEB made a second attempt, opening branches in both Geneva and Zurich. The Zurich office closed in 2008, and eight years later, SEB also shut down its operations in Geneva.

Now, SEB is making another move—this time in response to demographic shifts. Over the past decade, the number of Swedes, Norwegians, Finns, and Danes living in Switzerland has increased by approximately 8.4%, now totaling nearly 20,000 people. Many of them come from affluent business families.

«Switzerland has become highly attractive for Nordics. The financial center is transparent and internationally connected, and the country is perceived as safe. All of this contributes to the increasing presence of Nordic nationals here,» says Reimann.