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26 September 2014
BRS Group and Pareto Securities enter into a long term agreement

The BRS Group and Pareto Securities have entered into a long term co-operation agreement in order to facilitate investment banking services and ship broking services to their respective clients. BRS and Pareto Securities have been partners together in China through Asia Shipping International for the last three years.

BRS will as a part of the co-operation agreement acquire Pareto Securities’ subsidiary Pareto Shipping AS. Pareto Shipping specializes in sale & purchase of newbuildings as well as broking of product tankers, bulk carriers, LPG and chemical tankers. The company has three employees in Oslo with Odd Jacob Fritzner as the CEO and will continue to be located together with Pareto Securities premises in Oslo. BRS intends to grow the scope and hire more brokers who are able to develop related activities and be part of the expanding global team. The agreed new set up will allow BRS brokers in Oslo and world-wide to facilitate financial services to their clients.

Pareto Securities will open a Paris office at BRS’ premises in Neuilly-sur-Seine, headed by senior partner Tarjei Mellin-Olsen. Mr Mellin-Olsen has more than 20 years’ experience in corporate financing and M&A, and he has studied and worked in France. Pareto Securities will be looking for further investment banking talent in Paris under the leadership of Mellin-Olsen. Pareto Securities will be introduced to BRS clients looking for financing and the set up will give Pareto Securities an even stronger shipping base.

Pareto Securities is an independent full service investment bank with a leading position in the Nordic capital markets and a strong international presence within the oil, offshore, shipping and natural resources sectors. Pareto Securities has raised USD 3.8bn in shipping capital through 27 equity and bond transactions last 12 months. Pareto Securities is headquartered in Oslo, with more than 350 employees in 18 offices through 10 countries.

The BRS Group is a diversified global shipping services group offering a range of maritime activities to complement its core broking business. As well as ship broking and yacht brokerage, the Group’s activities include marine insurance, freight derivatives, maritime Service As a Software solution, market intelligence and maritime consulting. The BRS Group is headquartered in Paris with more than 400 employees in 18 offices through 15 countries.

– Pareto Securities and BRS have been partners together in China for the last three years. By tying even further up with a global top tier shipbroker, we will extend the global reach of our maritime financing activity, says Ole Henrik Bjørge, CEO of Pareto Securities.

"We are excited about teaming up with a global leader in maritime financing. Pareto Securities’ success and growth as the investment bankers of choice in the industry is due to their professionalism and knowledge of the players and markets", says Timothy T. Jones, President of BRS.

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