SEB, the Swedish bank, has named a new chief executive for its fund management arm ahead of an October deadline, when outgoing chief executive Harry Klagsburg will leave to join a private equity firm.

Klagsburg's replacement at SEB Asset Management, the investment management arm of the Nordic financial services group, will be Fredrik Boheman, who is currently executive vice-president and head of SEB Germany. That role will be taken by Peter Buschbeck, head of German Retail, as of January 1 next year.