ABG Sundal Collier reports record third-quarter revenue

ABG Sundal Collier reported record third-quarter revenue of approximately 594 million NOK, up from 476 million NOK in the same period last year. Pre-tax profit also rose to 120 million NOK, compared to 101 million NOK a year ago.

The company’s mergers and acquisitions (M&A) and advisory division saw revenues nearly double to 308 million NOK. While debt capital markets (DCM) activity was lower than in comparable strong periods, the firm noted that the IPO market remains accessible for well-positioned players.

The financial results coincide with a leadership transition. Following the departure of CEO Jonas Ström on September 1, Kristian B. Fyksen has been serving as interim CEO. Sverre Tyrhaug, formerly of the law firm Thommessen, is expected to take over as CEO during the fourth quarter. Fyksen will continue to lead the investment banking division once the transition is complete.