SEB Global Services centre in Riga to increase the number of staff by 20% by 2023
Continuing its rapid growth, SEB Global Services centre plans to increase the number of its employees by about 20% by the end of next year. Currently, SEB group's business service centre in Riga employs about 900 people. According to the plans, at the beginning of 2023 this number could increase to 1100 employees.
The increase of staff is planned taking into account the increase off business volumes in areas such as sub-custody operations, customer screening and transactions monitoring as well as IT. Nordea bank has recently changed its business strategy in Scandinavia by ceasing to offer sub-custody services to its customers. As a result, the number of customers who have entrusted the provision of these services to SEB, the leader in sub-custody services in the Scandinavian market, has increased dramatically.
Sub-custody transactions on behalf of the entire SEB group are processed by SEB Global Services centre in Riga, therefore the number of employees in this area is currently growing particularly fast. In order to fulfil the growth plans, SEB Global Services also needs bank operations specialists, AML monitoring officers, analysts and team leaders. Currently, more than 100 vacancies are open for both experienced specialists and candidates without prior experience in finance.
"We are looking for candidates with English language skills and willingness to learn. There are very few other companies in Latvia where you can get experience, for example, with futures, derivatives and other complex financial market instruments. That is why we have set up an effective training and mentoring system to provide the new colleagues with all the necessary knowledge and skills they need in a short period of time. SEB Global Services is one of the companies in the global business services industry that has continued to grow despite the challenges brought by the global pandemic. At the beginning of 2020 we had 800 employees in Riga, and by the end of this year this number will exceed 900," says Aļesja Kirčenko, Deputy Head of SEB Global Services centre in Riga.
SEB business services centre in Riga was established in 2006 and currently delivers business functions such as transaction services and cash management, global custody and sub custody, compliance and risk, private banking operations, trading operations and trading control, KYC and customer lifecycle operations, and IT development and maintenance to other SEB group companies in Scandinavia and other parts of the world.
Currently, the departments of SEB Global Services are located in three different locations in Riga. The construction of the company's new office building in the business centre GUSTAVS in Teika, Gustava Zemgala gatve 73, was started this summer. It will become one of the most modern and attractive offices in Riga with a strong emphasis on sustainability and collaboration between employees, and all 1100 SEB Global Services employees in Riga will move to the new building in the beginning of 2023.
SEB has another business services hub in Vilnius, which employs more than 1300 employees and provides IT development and maintenance services, financial reporting, procurement services, HR administration and other business services to SEB group companies worldwide.