Swedish Transaction technology vendor OM has consolidated its banking and broker services divisions into one business unit, headed by Klas Ståhl.
Ståhl joins OM from his own consultancy. He was previously senior partner at Accenture's global market unit, financial services.
OM says that the organisational shake-up could lead to redundancies as the new division, called Banks & Brokers, replaces its broker services business, which included a unit supervised by the Swedish Financial Supervisory Authority and other units at the firm's Stockholm, London and New York offices.
Magnus Böcker, COO and vice president, OM, says: "By consolidating the areas of our business that share a common customer base, we are creating a business area that will strengthen all of OM's business."
The new business unit services firms in the Nordic region, Europe and North America and has an expected turnover of approximately Skr400 million.