Danish pensions lured Goldman Sachs to Denmark

The Danish pension system has inspired the US investment bank to open a new office in Copenhagen

Photo: Brendan Mcdermid/Reuters/Ritzau Scanpix

In October, Goldman Sachs announced that they are opening an office in Denmark. The new Danish head, Peter Hermann, tells Danish business daily Børsen that this opening is to a large extent due to the Danish pension sector, which has invested savings of more than DKK 4000 billion (EUR 535 billion).

"Denmark is a small country but it is an important market for us in a global context. Partly because we have large savings, and partly because we have been ahead of the curve when saving up for old age," says Hermann, who will share reponsibility for the Scandinavian business with the Swedish head.

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