Öhman Fondkommission loses another analyst following Pareto acquisition

Mining analyst Johannes Grunselius is leaving Swedish investment bank Öhman Fondkommission for competitor ABG Sundal Collier.

The departure comes soon after the acquisition of Öhman Fondkommission by Norway’s Pareto Securities.

Grunselius confirmed his departure to local media. The move to ABG Sundal Collier is, perhaps, not surprising as a number of former colleagues moved there in December 2010.

That was followed by further departures in January 2011, by colleagues who moved to Catella – another Swedish asset manager.

Pareto Securities, based in Oslo, is an independent investment bank. It reported operating revenues of NOK1.2bn (€155m) for 2010. Pareto chief executive Ole Henrik Bjørge suggested that one of the key reasons for the acquisition was Öhman Fondkommission’s strength in the Swedish and Finnish corporate bond markets. This will build on Pareto’s position in the Norwegian market, but also link to its network of offices outside the region in New York, Singapore and Shanghai.

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