Time for reflection: 18 months with Nordea On Your Mind

Jiohan Trocmé

Johan Trocmé

Nordea On Your Mind - Johan Trocmé

65 posts

Two of our leaders discuss what Nordea On Your Mind has become since it launched in November 2016 and how we would like it to evolve further.

Nordea Global Co-Head of Corporate & Investment Banking Mathias Leijon and Head of Nordea Research Thomas Winther Sørensen share their thoughts on the past 18 months of Nordea on Your Mind, highlighting its purpose to be thought-provoking and stimulate a strategic dialogue between Nordea and our corporate and institutional customers. We wish all of our readers a wonderful break and a relaxing summer.

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Mathias Leijon

Nordea Global Co-Head of Corporate & Investment Banking

Thomas Winther Sørensen

Head of Nordea Research

Question 1

We launched Nordea On Your Mind in November 2016. What are your thoughts today, 18 months on in our journey with NOYM, how it has evolved, and how we would like it to add value for Nordea's customers?

Mathias Leijon

Nordea Global Co-Head of Corporate & Investment Banking

First of all, we are honoured and privileged to be part of our customers’ journey. NOYM is a vehicle on that journey, underpinning our ambition to offer thematic research to our clients in order to stimulate dialogue and debate around topics and trends that are essential for corporate governance and development. We want this research product to help position Nordea as a partner with our customers. We are determined to become an integrated content hub and trusted partner that customers want to spar with, and share and explore what certain types of trends mean generally, but also more specifically what they might mean for certain customers.

Thomas Winther Sørensen

Head of Nordea Research

I think we should be both humble and proud about the interest and enthusiasm we have seen for Nordea On Your Mind. What we imagined from the beginning was a research product with at least two high-level design factors. The first was to have a customer-driven content and agenda, and the second was to go about it in a way that would provide a combination of a good read and thought-provoking style. Considering the buzz that has been stirred up by Nordea On Your Mind, and the encouraging feedback and attention we have received so far, I would say we have undoubtedly reached that goal.

Question 2

Out of the NOYM topics in the past 18 months, is there any one you think stands out in terms of impact or interest?

Mathias Leijon

Nordea Global Co-Head of Corporate & Investment Banking

I would pick our capex theme from December 2017. I think it is clear that subdued corporate capex spending is not sustainable in the long term. We have been able to demonstrate, follow up on and explain it in a very coherent way, which has led to many high-level discussions with corporate customers. This has, in turn, deepened our level of understanding of capex trends and behaviour, and has actually raised our level of conviction, in our view.

The cautious investment behaviour is fascinating. We have not had a major crisis for seven years. At Nordea, we have always been open no matter the market climate. If and when there is a new crisis, we will also be here to support our clients and to continue in close partnership and close participation. We will be here and support their development and help them to capture global growth.

NOYM capex issue cover

Question 3

NOYM is quite different from any other reports from Nordea Research, with its interviews, and in that it does not contain investment recommendations. Has it been a hard sell at any point before or since its launch?

NOYM Cover: Top 50 charts

Thomas Winther Sørensen

Head of Nordea Research

Clearly, a new category like this typically takes a few iterations before we get accustomed to the idea and find our way. So there have been questions from colleagues and customers about how it should be used, and how one should think about Nordea On Your Mind, but I would argue they have pretty much been answered now. NOYM enables a discussion which can lead to distinct and relevant conclusions and directions for the reader.

The reports have covered a very broad spectrum of topics, yet should not necessarily be seen on a standalone basis. Different readers will get different things out of the same report, and many reports build on, inspire, or are spin-offs from another.

Question 4

And based on customer feedback, are there any topics you would particularly like to see covered in NOYM going forward?

Mathias Leijon

Nordea Global Co-Head of Corporate & Investment Banking

We have a very high ambition level, and we are super-excited by the positive feedback from clients and their suggestions for new areas to explore over the coming 12 months. As we now wish our clients an enjoyable summer break, we also intend to come back with a big catalogue of exciting ideas after the holiday season, as testament to the partnership between Nordea and our Nordic corporate clients.

One topic which we have already covered extensively, and which I would like to see even more of going forward, is ESG. ESG has really picked up, and we want to continue to be the bank leading this.

Our ambition is to be the speaking partner that our clients need in order to position and develop their businesses in a rapidly changing environment. We wish to revisit topics such as ESG, and further our reach into new areas like biotech, to stimulate a dialogue which is vital for the clients to shape their future. I believe this issue of Nordea On Your Mind really showcases this, by putting together the key findings and top illustrations from the past 12 months, hopefully stirring up new thoughts and connections in the minds of our customers.

Thomas Winther Sørensen

Head of Nordea Research

Something that I believe stands out and which we have yet to cover in greater detail is the area of medicine and neuroscience. I think we have a strong tradition in the Nordics in the medtech, biotech and pharmaceutical fields. This is an area that we have not covered very much to date, and where there is so much going on: from the big global leaders that we have in the Nordics down to startups with great ideas. It’s an area which, I would guess, is a top-five disruption area.

Question 5

Business models for investment research are facing major change, not least from new regulations like MiFID II. Do you have any thoughts on how a product like Nordea On Your Mind fits into this new competitive landscape for research?

NOYM liquidity issue cover

Thomas Winther Sørensen

Head of Nordea Research

In my view, the core of research will remain the same. The thought-provoking, basic fundamental quality – the thoughts that will change and move the mindset of the Nordics – should continue to be the main focus. But the megatrend shaping research going forward is the gathering, handling and processing of data. It will set a new benchmark for what one will need to know, and for what will be the starting point for all research.

Nordea Markets is the name of the Markets departments of Nordea Bank AB (publ) and its branches Nordea Danmark, filial af Nordea Bank AB (publ), Sverige, Nordea Bank AB (publ), filial i Finland and Nordea Bank AB (publ), filial i Norge. The information provided herein is intended for the sole use of the intended recipient. The views and other information provided herein are the current views of Nordea Markets as of the date of this document and are subject to change without notice. The views have been provided solely based on the information made available to Nordea Markets and for the purposes of presenting the services made available by Nordea Markets. This notice does not substitute the judgement of the recipient. Nordea Markets is not and does not purport to be an adviser as to legal, taxation, accounting or regulatory matters in any jurisdiction. Relevant professional advice should always be obtained before making any investment or credit decision. This document may not be reproduced, distributed or published for any purpose without the prior written consent from Nordea Markets. This transmission is intended solely for the person or entity to whom it is addressed. It may contain privileged and confidential information. If you are not the intended recipient, please be notified that any dissemination, distribution or copying is strictly prohibited. If you have received this transmission by mistake, please let us know and then delete it from your system.

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