Listed Swedish property company Kungsleden is appointing Anders Kvist, currently of northern European banking group SEB, as its new CFO and Deputy Chief Executive.
The financial conditions on the property market have altered during the financial crisis of recent years. These new conditions have compelled companies like Kungsleden to find different solutions to those that were previously customary on the market. In tandem with its successful management strategy, Kungsleden wants to ensure stable returns for the long term, diversify risk, continue to enhance its portfolio and sharpen its focus on innovative funding solutions.
“We have arranged our refinancing in 2012, but with poorer access to credit as a result of the government financial turmoil in Europe and more stringent capital adequacy requirements on banks, we face challenges that also require new and innovative funding solutions. In these circumstances, being able to bring fresh experience from the financial markets to the company is a strength,” commented Kungsleden’s Chief Executive Thomas Erséus.
Anders Kvist is currently Head of Financial Management at SEB, where he is responsible for the bank’s capital structure, and for capital and liquidity planning. Anders has been working for SEB since 2005 and has 30 years’ experience of the Nordic banking and insurance business, as well as asset management. Anders Kvist is a graduate of the Stockholm School of Economics, and has studied Russian and history at the Universities of Stockholm and Uppsala.
“Kungsleden is an exciting company in good growth, with stable cash flows and good profits from property management. Even if altered funding conditions will require more of property companies going forward, I think Kungsleden enjoys good prospects of continuing to diversify its risks while simultaneously executing attractive, value-creating transactions. I’m looking forward to contributing my know-how from the banking and finance world,” responded Anders Kvist.
Anders Kvist succeeds Johan Risberg, who is leaving the company.
“Johan has been part of Kungsleden almost right from the start, and his contribution to creating the company that Kungsleden is today has been decisive. After 16 years with Kungsleden, it is natural for him to move on and I want to thank Johan for his great effort,” commented Thomas Erséus.Regulatory
For more information, please contact:
Thomas Erséus, CEO Kungsleden | phone 46 (0)8 503 052 04 | mobile 46 (0)70 378 20 24
Detta pressmeddelande finns tillgängligt på svenska på www.kungsleden.se/pressmeddelanden
Kungsleden AB (publ) discloses the information in this press release according to the Swedish Securities Markets Act and/or the Swedish Financial Trading Act. The information was provided for public release on 30 May 2012 at 11:30 a.m.
Kungsleden’s strategy is to ensure sustainable high and stable returns proceeding from its existing holding, and through acquisitions and divestments. As of 31 March 2011, the property portfolio comprised 317 properties with a book value of SEK 15.5 bn. The portfolio was located in a total of 100 municipalities, mainly in southern and central Sweden. Kungsleden has been quoted on the Nasdaq OMX Stockholm since 1999.