Singapore: DnB NOR Markets, the investment banking division of DnB NOR Bank, has set up a dedicated equity research and securities sales team at its Asia regional headquarters in Singapore.
The focus of the team will be on companies in the EOM sectors and investors that are active in Asia.
The creation of the eleven-strong team consisting of experienced professionals comes as DnB NOR Markets was nominated by the Singapore Exchange (SGX) as the only research house specifically tasked with providing more focused research of the EOM sectors.
The team, which has been built up in recent months, comprises two shipping analysts, two offshore analysts and a seven-strong equity and fixed income trading and sales team.
Its members have been recruited from leading Singaporean and International firms as well as through talent transfer from other DnB NOR offices. The EOM equity research team is headed by Thor Andre Lunder, one of DnB NOR's most experienced offshore industry analysts.
DnB NOR Markets' shipping analysts were recently ranked among the top three global shipping stock pickers by the Financial Times, and both its shipping and offshore research have been consistently top ranked by leading Scandinavian finance publications and surveys over the last few years.
The equity sales team is headed by Tan Hock Meng, and the fixed income trading and sales team is headed by Ng Chee Keen, both industry veterans with a strong track record in the region.
In July 2009, SGX and Oslo Børs announced they had signed a Memorandum of Understanding to promote dual listings of companies with a main listing on either exchange. The co-operation is expected to focus on companies in the EOM sectors as these sectors are defined as core for both of the respective stock exchanges.
DnB NOR Markets believes its equity research, sales and corporate finance capabilities in Singapore will act as a catalyst for SGX and Oslo Bors-listed companies to take up secondary listings on each other's exchanges, enabling further access to the capital markets for clients.
DnB NOR Markets is currently the only investment bank with a full service presence in both Oslo and Singapore and the bank believes this makes it ideally placed to facilitate dual listings.
Jeff Ang, Managing Director and Regional Head of DnB NOR Markets, said today: "DnB NOR has assembled a very experienced team of research and sales professionals with strong experience in the EOM sectors which we believe will quickly become a dominant force in the region".
"We have a unique position in this respect because we are the largest investment bank in Norway with a leading global position in the EOM sectors and the team we have put together here has unrivalled experience and talent".
''Our capabilities in the Singapore unit will extend to equity research across a range of listed EOM companies in the region. The aim is to offer a market-leading research product on EOM companies listed on the SGX and regional exchanges to investors, and to complement our existing capabilities and coverage in Europe and the US".
Joachim Skorge, Managing Director and Head of Corporate Finance Asia added: "Together with our corporate finance team, DnB NOR Markets will now offer the full range of investment banking services consisting of M&A, advisory, equity & debt capital markets, equity research and securities trading and sales". [18/08/09]
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