Wunderlich Investment Company (WIC), the Memphis-based parent of investment firm Wunderlich Securities, has established a presence in Norway through the acquisition of SSB Securities’ shares from the savings bank – Sandnes Sparebank.
Alfred Ydstebo, whose Coil Investment Group has been the majority shareholder in Wunderlich’s parent company, chairs the Wunderlich board and knows SSB Securities well from his base in Stavanger, Norway.
Mr. Ydstebo said: Our clients in Norway are institutional investors and companies who will benefit from Wunderlich’s investment banking team which can provide advisory, M&A capabilities and capital financings. The Firm’s professionals will also introduce their research capabilities and the many opportunities of the U.S. equity market to our clients. The acquisition of SSB Securities by Wunderlich represents a strong foundation for the firm in Norway. Wunderlich’s objective is to foster an independent platform in Norway, with offices in Stavanger and Oslo, and to ensure that it utilizes as much as possible the skills and expertise found across the Atlantic. In both the U.S. and the Norwegian markets, there are many opportunities, especially within the energy sector.
Gary Wunderlich, CEO and Founder of Wunderlich, said: Accessing the Norwegian market is a good idea for a firm like ours. We believe that SSB, working where possible with Wunderlich Securities’ U.S. teams, can offer its Norwegian clients a wide range of services with a unique approach compared to the already existing firms. Considering the local knowledge of our chairman, Alfred Ydstebø, Norway was also a natural first step outside of Wunderlich’s current borders.
With more than 320 associates in 13 offices in the US, Memphis-based Wunderlich Securities provides financial advisory, trading and brokerage, equity research and investment banking services to individual and institutional clients.
