Nordea Asset Management makes organizational changes

A bet on artificial intelligence has been shut down and a new team has been created to cater for the growing demand within illiquid products.

Photo: Nordea/PR

Nordea Asset Management (NAM) has made some organizational changes that impact both its investment organization and product office department.

One of the initiatives is that the three-year-old machine learning division has been closed as the business case can't be achieved, an internal memo to NAM's employees states. The project was started up in the credit space as a tool for the security selection process, Jens Rygaard, CIO in Fixed Income and Equities told AMWatch in September 2017. The remains of the product will be transferred to NAM's Credit Fixed Income boutique.

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