Danske Bank expanding equity sales, corporate and DCM teams

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Danske Bank has been busy hiring within its Corporate and Institutional Banking (CIB) division, including "upgrading" its presence in London and Sweden, the bank has said.

In its Q1 results earlier this month the bank attributed a 12% hike in expenses within its Markets and Treasury business to a combination of higher bonuses, increased investment in various "organisational units" as well as the cost of setting up a new brokerage office in New York.

These organisational units refer to capital markets and corporate finance, in line with chief executive Peter Straarup's ambition, outlined back in February, to strengthen the bank's position as a significant player to large Nordic corporates.

In the last three months of 2010 the bank extended Danske Bank CIB to the Nordic markets.

While remaining coy on the exact numbers, positions and seniority of the people it has been hiring, spokesman Kenni Leth says the moves are part of "an ambition to be an even stronger financial partner in the Nordic region".

"As part of this we have upgraded our presence in London and on the Swedish market with a number of employees. The aim is to strengthen our position especially in the corporate finance area and equity sales distribution channels," he adds.

The bank has, for example, been hiring for credit specialists in corporate banking and European and global portfolio managers within Danske Capital, among other positions.

"The majority of new employees have been in the area of equity sales distribution channels (around 60%), while the last 40% are new employees in corporate finance and dept capital markets," adds Leth.

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