The Nordea AM hub would be the first such base outside of the asset manager’s Nordic headquarters. Nordea will begin implementing the hub in Q4 2021. The hub’s purpose is to put Nordea closer to its Asia-Pacific clients and better understand how companies in the region are dealing with sustainability.
Singapore was chosen for the company’s first hub due to the stable investment environment and the government’s commitment to tackling carbon emissions and embracing sustainable finance. The hub will employ local ESG analysts.
Nils Bolmstrand, CEO of Nordea Asset Management (NAM), says: “NAM is pleased to establish an ESG hub in Singapore, which will enable us to enhance our local servicing, ESG capabilities, investment platform and distribution reach in the region. Sustainability issues have gained significant interest in Asia in recent years, and investors are increasingly asking for ESG solutions. The time is right to meet that demand.”
Singapore launched its Green Finance Action Plan in 2019, which centres creating a sustainable future for the country.