In the beginning of the year, we announced that Danske Markets, our financial markets unit, was establishing a broker dealer office in New York. Now we are adding treasury products to Danske Markets’ NY activities.
Danske Bank Group has therefore submitted an application to the US Federal Reserve Bank in New York to establish a branch, which is a condition for dealing in derivatives, money market and foreign exchange products.
Better customer service, closer dialogue with investors
“By having an FX sales desk in New York, we will be able to offer our Nordic clients even better coverage with regard to overnight orders,” says Steen Blaafalk, head of Danske Markets.
“Similarly, by being in New York we can have a much closer dialogue with US end-investors.”
A staff of 25 Danske Markets expects its NY branch to have a total staff of approximately 25. Anders Iversen, currently with our London office, has been appointed General Manager, and Per Rohrmann, currently with Danske Bank International in Luxembourg, has been appointed Deputy General Manager of the NY Branch.
No plans for lending operations in the US
Danske Bank does not plan to start lending operations in the United States.
Published on June 2, 2010