Danske Bank team quits to launch derivatives boutique

Four senior derivatives specialists at Danske Bank have left to found an equity-focused derivatives boutique, Arctic Securities, in Oslo.

The four are: Anders Eide, the head of Danske Markets in Norway; Halvor Hoddevik, global head of risk advisory; Kristian Berg, head of derivatives marketing for Norway; and Torbjørn Jakobsen, a dealer in fixed-income and derivatives products. All four were previously with JP Morgan's derivatives and structuring team in London, before joining Danske Bank in 2005.

Arctic Securities will start operations in August this year, Hoddevik said. The boutique will focus on corporate finance, structured solutions and high-yield products, and equity trading, brokerage and research.

Hoddevik added: "The team will incorporate our risk management and derivatives experience into the traditionally not very derivatives and risk management-focused corporate finance processes. In doing this we will initially be active within the following areas of risk management, and offer end-user products in all of them: cash and derivatives equities, fixed-income, inflation, structured credit, commodities and high-yield issuance."