Kristian Skovmand and Christian Dyvig, two former managing directors at Morgan Stanley in London, are now hunting for bankers to hire as they build up the manpower needed to run a new corporate finance venture in Denmark.
The investment bank, which will have its base in Copenhagen, will mostly target niche services and seek to attract clients wary of large financial conglomerates potentially driven by their own agendas, Skovmand said in a phone interview on Tuesday.
“This is about human capital so we’ll wait for the right people to be available,” he said.
Skovmand was brought in to head the new venture by Dyvig, a private investor whose most recent post was as the chairman of FIH Erhvervsbank A/S, a Danish corporate lender. The two have worked together in the past, offering merger and acquisition advice to Nordic companies from their base in London.
Though there’s in principle no limit to the kinds of transactions Dyvig and Skovmand plan to offer, “there are niches in the market that we can advise on that fall outside the business models of the investment banks currently in the Nordic market,” Skovmand said. “M&A among small and medium sized companies is one such niche.” At the same time, he said “there won’t be any limits to the size of transactions we can be in on.”
“We will focus on advising clients and occasionally co-invest but we won’t be raising a fund,” he said. “We won’t be a private equity firm. This business will be about corporate finance.”
The venture won’t require a banking license because it won’t be lending money, just advising clients seeking financing or mergers. The firm’s name will be CP Dyvig.