Danske Bank Shutters London ECM Desk to Focus on Stockholm

Danske Bank A/S has closed down its equity capital markets operations in London as it doubles down on Stockholm in a bid to become a top Nordic investment bank.

Five people from the London equity syndicate team were dismissed in the shakeup, which took effect in June, according to the lender. The move marks a “strategic milestone” in the bank’s capital markets franchise push, Atilla Olesen, head of its investment banking division, said in an email to Bloomberg News.

As part of a five-year strategy it set out for itself in 2023, Danske Bank is committed to expanding its ...