An equity research and securities sales team was yesterday set up in Singapore by DnB Nor Markets, the investment banking division of Norway's DnB Nor Bank ASA. The main task of the team will be to concentrate on the energy, offshore and maritime (EOM) sectors, apart from focusing on DnB Nor's Oslo headquarters.

Two shipping analysts, two offshore analysts and seven people dedicated to both equities and fixed-income sales and trading are included in the 11-member team. It should be noted that transfers from DnB Nor offices, as well as hires from other firms, have made the creation of the Singapore office possible.

The head of the equity research team will be Thor Andre Lunder, while Tan Hock Meng will head the equity sales team. Lastly, the fixed-income sales and trading team will be headed by Ng Chee Keen.

A memorandum of understanding was signed last month by the primary stock exchanges in Singapore and Norway -- the Singapore Exchange and Oslo Bors -- with the aim to promote dual listings of companies which already have a main listing on either exchange. The listings' attention is on companies in the EOM sectors, which are vital for both exchanges.

It was confirmed by DnB Nor Markets, via a written statement, that its Singapore team will "act as a catalyst" for the dual listings.