SEB's Fors: T2S threatens custody offerings

Goran Fors, global head of custody at SEB, says T2S will increase costs substantially in local custody markets at a time when declining revenues are leading banks to question whether current operating models are sustainable

Stockholm-headquartered SEB continues to be faithful to its model of being truly Nordic, but the international nature of its business is reflected in its presence in some 20 countries worldwide. Serving more than 4 million customers, it has around 16,500 employees. 

Over the past year, SEB has developed standard custody agreements across all four Nordic markets, revised reporting to make it consistent with one format and assimilated asset-servicing deadlines using the most aggressive ones as the