Luxembourg-based Nordea Asset Management has secured a capital markets license from Singapore’s regulator. Moving forward, the city-state will be the new base for its Asian business.
Nordea Asset Management (NAM) has been granted a capital markets services (CMS) license by the Monetary Authority of Singapore, according to a statement. This will allow it to bring its global investment offerings and services to institutional and accredited investors in the city-state as a licensed fund manager.
As a result, NAM’s Singapore unit will now be responsible for driving the regional business, led by head of APAC distribution ex-Japan and Singapore CEO Ana Dhoraisingam. The new hub will also be integrated with NAM’s «ESG-focused internal investment boutiques as well as its portfolio managers covering equities, fixed income and multi-asset investments».
NAM is the investment management arm of Helsinki-based Nordea Group with 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. It takes a multi-boutique approach across all asset classes and as of 30 June 2023, it had 241 billion euros ($258 billion) in assets under management.
