DnB Nor Markets opens Singapore office

DnB NOR Markets will shortly be opening a trading desk and research unit in Singapore and a trading desk in New York. "Now is the time for expansion," said Paal Karstensen, head of Equities, on Aug 18. Photo: Dnb Nor Oslo.

DnB Nor Markets, Norway’s largest investment bank, sets up an equity research and securities sales team in Singapore.

DnB Nor Markets, the investment banking division of Norway’s DnB Nor Bank ASA, yesterday announced it has set up an equity research and securities sales team in Singapore that will focus on the energy, offshore and maritime (EOM) sectors, in line with the focus at its Oslo headquarters.

The 11-strong team comprises two shipping analysts, two offshore analysts and seven people dedicated to both equities and fixed-income sales and trading. The Singapore office has been built up through transfers from DnB Nor offices as well as hires from other firms. The equity research team is headed by Thor Andre Lunder. The equity sales team is headed by Tan Hock Meng and the fixed-income sales and trading team is headed by Ng Chee Keen.

Last month the primary stock exchanges in Singapore and Norway — the Singapore Exchange and Oslo Bors — signed a memorandum of understanding to promote dual listings of companies which already have a main listing on either exchange. The focus for the listings is on companies in the EOM sectors, which are core for both exchanges. DnB Nor Markets said in a written statement that its Singapore team will “act as a catalyst” for the dual listings.

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