Erik Eliasson

SB1 Markets is live in Sweden! Today marks the launch of SB1 Markets pan-Nordic operation – the result of the strategic partnership between SpareBank 1 and Swedbank, announced in March 2025. SB1 Markets will continue to provide a comprehensive range of investment banking services including ECM, DCM and M&A advisory, as well as FX/FI and research and trading, now through a strengthened platform with on-the-ground presence in both Norway and Sweden. 

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The global ESG landscape may be shifting, but at Swedbank, we are unwavering in our belief that sustainability is central to responsible banking 🏦 We believe that sustainability and long-term financial success are inseparably linked. In today’s complex and uncertain environment, the need to support our clients in their transition is greater than ever. Our role is to help them navigate change, manage risks, and seize new opportunities in a more sustainable economy. For many companies, especially small and medium-sized enterprises, ESG discussions often come with frustration — largely due to the growing volume and complexity of regulations. Swedbank Group Head of Sustainability, Johanna Fager Wettergren, acknowledges the increasing administrative burden but stresses the importance of regulation in driving change. "Yes, ESG rules have multiplied in recent years, and with them comes bureaucracy. While this creates challenges, regulation remains a key driver of transparency and progress — especially where voluntary measures alone may fall short," she explains. Finding the right balance is crucial: "Legislation is necessary, but rules must also be practical — impactful without overwhelming companies," Wettergren adds. The risks of ignoring ESG are clear: financial losses, reputational damage, sanctions, and missed opportunities. "It’s no longer just about doing the right thing — it’s about protecting long-term value and resilience," she concludes. Read more (the article is in Estonian) 👉 https://lnkd.in/d__R2mnh 📷: Kaupo Kalda

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Santander Corporate & Investment Banking has acted as financial advisor to Zenobē and its sponsors KKR and Infracapital in their raise of a new €325m multicurrency debt facility. The facility is provided in multiple currencies (EUR, DKK, NOK, and SEK) to support Zenobē in expanding their electric bus fleets-as-a-service across the European market. This is a landmark transaction that will allow the incorporation of up to 1,000 electric buses, trucks and chargers, and consolidates Santander Corporate & Investment Banking’s position as a key advisor for the clean-mobility transition.

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What does a day in the life of a Future Financial Professional look like? Three of our talented trainees share their experiences. 👉 https://lnkd.in/dRbQ394W Christoffer Stenius on the ESG & Structured Finance Tools team helps develop applications that support our sustainability-linked loans. 💡 "The real reward comes from the daily intellectual challenge of solving problems and building effective bridges between technology and business," he says. Kerkko Konola focuses on interest rate hedging offers and pricing on the Derivatives Coverage Finland desk. 💡 "The most intense moments are when we are in the middle of making a deal with a customer and we must simultaneously talk with the customer and handle live market data," he says. Titus Kokko on the Business Risk Control (BRC) team performs key controls and analyses transaction data. 💡 "I have noticed that I have been able to take on more responsibility and ownership in BRC's controls already during my first 2-months at Nordea Markets," he says. Read their stories and career tips. #FutureFinanceProfessional #FinanceInternship #Nordea

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Water the investment risk? Our new Danske Bank white paper is finally OUT!! Our analysis shows that 39 Nordic companies dependent on water in their operations generate DKK 1,700 billion in revenues while operating in high or extreme water-stressed areas. That equals around 13% of Nordic GDP – and that’s a conservative estimate, as value chains are not included. So what’s the issue? 💧Many of these water-dependent companies are not disclosing whether they measure, mitigate, or prepare for water risk. 💧This leaves them exposed to production disruptions, higher costs, license-to-operate challenges – and ultimately investor pressure. 💧and it won't stop here: scenario modelling shows that company exposure to water stress will only increase in the future. This is not a future dystopia: 🚗 Tesla’s Berlin gigafactory faced costly delays due to groundwater protests. 🍺 Constellation Brands wrote down $660 million abandoning a brewery in Mexico. 🌊 Antofagasta had to invest $1.5 billion to secure seawater access in Chile. The risks are systemic. Today, more than 4 billion people live under water-stressed conditions for at least one month of the year. The WEF Global Risk Report 2025 lists water shortages as a top-five risk in 27 countries. The Stockholm Resilience Centre confirms the planetary boundary for freshwater has already been crossed. By 2050, 31% of global GDP is projected to be exposed to high water stress. In our research, we combined company revenue data, asset locations, materiality data, and water stress maps – structured via the TNFD-aligned LEAP framework – this can enable investors to: ✔ Identify water-exposed holdings ✔ Inform engagement strategies ✔ Integrate water risk into portfolio construction We also include a deep dive on beverage companies - a sector that is for obvious reason very dependent on water - and compare Nordic players to their global peers. The results highlight the different approaches taken by global beverage companies. Nordic companies are not yet waterproof. But with the right tools, data, and investor engagement, they can be. This paper offers a concrete starting point for that journey. Find the paper here: https://lnkd.in/dekSVkFJ #Danskebank #responsibleinvestments #waterstress #dkfinans Peter Lindström, CFA, Allan Emanuelsson

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𝐔𝐧𝐝𝐞𝐫𝐬𝐭𝐚𝐧𝐝𝐢𝐧𝐠 𝐑𝐞𝐭𝐮𝐫𝐧 𝐄𝐱𝐩𝐞𝐜𝐭𝐚𝐭𝐢𝐨𝐧𝐬 (𝐒7𝐄21) (Links in first comment below) In this episode, I speak with Antti Ilmanen, Principal and Global Co-head of the Portfolio Solutions Group at AQR Capital Management.  Antti has long been one of the most thoughtful voices in the world of expected returns, having written not one, but two landmark books on the subject. But in his latest paper series, he returns to the topic with fresh urgency—probing the difference between objective and subjective expectations, and asking why even rational models can go so wrong in real time.  We explore everything from CAPE ratios and market timing accusations, to why equity investors tend to extrapolate while bond investors expect mean reversion. We dig into how behavioral biases, valuation anchors, and structural shifts collide when forming capital market assumptions — and how Antti and the AQR team try to navigate that mess themselves.  If you’re in the business of long-term forecasting or just curious why markets often act like they’ve never read the textbooks, this is a conversation you won’t want to miss.  Please enjoy my conversation with Antti Ilmanen. 🎯 Objective vs. subjective forecasts 📉 Analysts' overoptimism 📊 CAPE's role (and its limits) 🌍 Macro surprises & market rationality 📈 Growth extrapolation ≠ equity returns 🤖 AI’s impact on future yields 🇺🇸 US exceptionalism—real or not?

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