Oil analyst Torbjorn Kjus said he’s quitting Norway’s biggest bank to pursue opportunities that will arise thanks to an obscure but far-reaching change to fuel rules for the shipping industry....MORE
Kjus, who has followed the market for almost two decades, will join Vistin Trading AS as a fund manager next week after leaving DNB ASA. The thematic fund, which will trade primarily off the International Maritime Organization’s plans to curb ship-fuel sulfur emissions worldwide from 2020, already recruited Kenneth Tveter from DNB in a similar role.
“It’s the perfect time to start,” Kjus, 48, said by phone from Oslo on Monday. “Because this topic is so extremely interesting and has so many effects, most of them have not been priced in.”
Kjus — who was recently ranked as Norway’s number one analyst in the magazine Kapital — said the business is now taking positions in the market. The venture was set up by Oslo-based drug maker Vistin Pharma ASA as it seeks to expand into energy trading.
The new company has raised $40 million in capital for initial trading and will take positions largely a year or two down the futures curve, said Kjus, who spent 11 years at DNB and six years prior to that at BP Plc and Norsk Hydro ASA....
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