Nordea has had a presence in Singapore since 1980 offering corporate banking services to customers throughout South East Asian markets, the Indian subcontinent and Australasia, however this is the first time the asset management division has had a physical presence there.
The firms said it will initially target clients in Singapore and Hong Kong.
Head of distribution Christophe Girondel said: “Global wealth managers expect us to offer services and dedicated support across the globe in their relevant time zone.
“Going forward they will increasingly seek efficiency in their product selection; for example they will continue to leverage not only in Europe but across the world in all their Private Banking units. Against this background it is vital for us to be present on the ground.”
The new distribution team is headed by Philippe Graffart, head of fund distribution Asia Pacific, who has 15 years of financial industry experience. Graffart is supported by client relationship manager Linda Chang Andersson.
