Luminor is to launch Debt Capital Markets (DCM) services for large companies, a move which the bank says will help businesses to broadening their funding alternatives.
"We believe that the conditions are right for us to start building up our Baltic DCM service," Andrius Nacajus, head of corporate banking at Luminor, said according to a press release. "We see increasing demand from institutional investors for high quality fixed income assets, while at the same time, large companies are striving to diversify their funding sources.
Paulius Zurauskas, who was hired by the bank as its new head of markets, will also be in charge of building up its DCM offering, Nacajus continued. "[Zurauskas] has been involved in most of the recent bond issues by large companies in the Baltics, including Latvenergo, Lietuvos Energija (now Ignitis), Maxima Grupe and airBaltic," he added.
Zurauskas is replacing Julius Lazauskas in the role, who has worked at Luminor and DNB before it for 13 years.
Editor: Aili Vahtla