Pareto Securities acquires Öhman Fondkommission, the investment banking arm of the Öhman group

Pareto Securities has acquired the investment banking arm of Öhman, namely Öhman Fondkommission. The parties have agreed not to disclose the purchase price.

Öhman Fondkommission has a long-standing position in the Swedish capital markets. Öhman Fondkommission reported operating revenues of SEK 302 million in 2010.

Pareto Securities is a leading Norwegian independent investment bank offering a wide range of financial services including equity and fixed income brokerage, equity and debt capital raisings, and advisory services in relation to mergers & acquisitions and restructurings. Pareto Securities reported operating revenues of NOK 1,230 million in 2010.

– Öhman, after divesting Öhman Fondkommission, will now focus on private clients with services in private banking, online banking as well as asset management and cross asset sales. We believe that the combination of Öhman Fondkommission and Pareto Securities will be one of the strongest players in the Nordic context, says CEO of Öhman, Tom Dinkelspiel.

– Pareto Securities knows Öhman well through our partnership in Nordic Partners Inc in New York during the period from 2002 to 2009. We are impressed by Öhman’s relationships in the Swedish business community and their ability to distribute financial products in the Swedish and Finnish markets. We are particularly optimistic about the corporate bond market in Sweden and Finland. Öhman has a strong position in these markets, which fits well with Pareto’s strong position in the Norwegian market. The Swedish and Finnish capital markets are among the most professional markets in the world, and we are happy to have the Öhman team on board. We are looking forward to maintaining close cooperation with the other companies in the Öhman group, and I am pleased to announce that Tom Dinkelspiel will continue as a member of the board of the Swedish company, says CEO of Pareto Securities, Ole Henrik Bjørge.

The acquisition is conditional upon approval from the Financial Services Supervisory Authority.

Pareto Securities will, after the acquisition, have approx. 380 employees with head office in Oslo, and offices in Stockholm, New York, Singapore, Shanghai, Kristiansand, Stavanger, Bergen, Trondheim and Malmö.

The Öhman group will after divestment of Öhman Fondkommission have 90 employees in Öhman Fonder, Öhman Wealth Management, Öhman Capital and Banque Öhman as well as a 30.3 % stake in Nordnet, a leading online bank in the Nordic Region.

Contact detalis:

CEO Tom Dinkelspiel, tom.dinkelspiel@ohman.se, + 46 708 72 5048

CEO Ole Henrik Bjørge, ole@pareto.no, +47 97 15 77 01