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Swedish private bank puts data in the driver's seat for investment insights

Erik Penser Bank ditches top economist role in favor of an outside data feed. The market trades on data, not economists' views, says the bank's asset management chief.

Photo: Erik Penser Bank/PR

Stockholm-based private bank Erik Penser Bank has decided to replace the role of chief economist with an external data provider.

Its asset management arm, which oversees roughly EUR 6bn (USD 7bn), is turning to Macrobond Financial AB to provide it with investment insights rather than putting its faith in the views of a human economist, according to the unit’s head Jonas Thulin.

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