With DnB Nor expanding its Nordic equity sales and research teams and opportunities still scarce in Sweden, Oslo is rapidly becoming an attractive destination for capital markets professionals.
DnB Nor last month unveiled a significant expansion of its equity research and sales teams, recruiting for a range of capital markets jobs based in both Oslo and London.
The bank, which was recruiting for roles across Swedish, Finnish, Danish and Norwegian shares, said it was after candidates with “established and complementary client portfolios” who could supply “high-quality research and out-of-the-box investment ideas”.
Areas being hired into included basic materials (or the country’s aluminium, steel, fertiliser and pulp and paper industries), capital goods, manufacturing and automotive, financial, banking and insurance, food and beverages (particularly in Denmark) and life sciences.
The relative strength of Norway’s oil exports-led economy – with Norges Bank in October becoming the first central bank in Europe to feel confident enough to raise its interest rates – means there are currently opportunities, and more hiring going on, argues Mari Jehrlander, section manager in recruitment firm Hays’ Stockholm office.
“External hiring into equities jobs is still quite low in Sweden compared with Norway and, in fact, many Swedes generally are looking at the option of working in Norway for a few years,” she says.
“Within Swedish banks what is happening more is that equities roles are being filled internally or people are being promoted into positions. There are opportunities and there are roles, but most of the movement is internal,” she adds.