Nordea Asset Management has secured a capital markets licence to operate in Singapore, signalling its intention to build its client book in the region.
In a statement, Nordea’s CEO, Nils Bolmstrand confirmed the company is seeking to “bring more compelling global investment opportunities to Asian investors”.
The announcement follows the news, last month, that it plans to open an “ESG hub” in the country to lean into the commercial success it was already witnessing in the country. The company has had a presence in Singapore since 2018.
The new licence from the Monetary Authority of Singapore permits the group to offer regulated activities including portfolio construction, asset allocation, research, business development, marketing, and client servicing.
Ana Dhoraisingam, head of Asia-Pacific distribution ex-Japan, said: “With an investment team now on the ground in Singapore, Nordea Asset Management will further capitalise on its global leadership position in sustainable investments.”
Nordea Asset Management is part of the Nordea Group, the largest financial services group in the Nordic region. The firm has a presence in Bonn, Brussels, Copenhagen, Frankfurt, Helsinki, Lisbon, London, Luxembourg, Madrid, Milan, New York, Oslo, Paris, Santiago de Chile, Singapore, Stockholm, Vienna and Zurich.
Nordea’s local presence goes hand in hand with the objective of being accessible and offering the best service to clients.