The Safe Deposit Bank of Norway is exactly that. A safe deposit bank for ultra secure, large deposits.

Cash Management

Safety

Safe Deposit Bank of Norway is a single-purpose bank whose license restricts the bank to one debtor only, namely Norges Bank. This implies that Safe Deposit Bank of Norway may take NOK deposits from professional investors and place them only with Norges Bank. No bank risk.

Liquidity

All deposits are on an overnight basis thus providing unlimited and unrestricted liquidity.

Service

Our Clients are entities holding significant amounts of NOK cash assets.

About us

We are a team driven to safeguard our Clients’ cash reserves whilst ensuring full liquidity in any market environment

Client Service Team

Morten Meland, CEO

Morten Meland worked at Goldman Sachs Bank AG Zürich for 15 years. Morten built one of the longest serving and most productive teams in the Private Wealth Management business with clients in Europe and Asia. He was instrumental in creating specialized coverage for Family Offices and a Member of the Executive Committee of the Bank. Since 2013, Morten advises a select number of clients and Family Offices on optimal structuring of their investments, sourcing, evaluating and managing strategic ownership positions and overviewing strategic Asset Allocation decisions. He invests privately as well as alongside some of his clients in a limited number of opportunities.
He holds a lic.oec HSG from the University of St. Gallen, speaks Norwegian, German and English.

Kjetil Kaarstein, Head of Technology & Operations

Kjetil Kaarstein has fulfilled IT related management positions in Banking, Telecom and Consulting.
1999-2005 he managed Technical Customer support, Customer Security and the anti-fraud group for Tele2 Norway as well as being an Employee Representative on the Board of Directors from 2002 until 2005.
2006-2013 at Tieto, Kjetil first managed developers working with solutions for international payments in the Banking and Insurance division and from 2009 managed Project and Test managers in the Consulting division.
2013- July 2016 he was Head of Integration and IT at Strålfors Norway and a member of the Norwegian management team.
He holds a Bachelor in Marketing Communication from Norwegian Business School and an intermediate subject in psychology from the University of Oslo. He speaks Norwegian and English.

Andreas Fredriksen, Operations

Andreas Fredriksen has worked at Sparebanken 1, SR-Bank in Client Servicing and Operations. He is currently reading for the Graduate Programme in Economics and Business Administration at the Norwegian Business School, BI, where he served as the student representative to the Board of Directors in 2015 and as a member of the Election Committee in 2016, as well as Head of the student body. He was a member of the Board at the Student Society of Stavanger, SIS (2015) and later Chairman in 2016. He is fluent in Norwegian and English.

Sayed Rahimi, Operations

Sayed Rahimi is currently reading for a Master of Science in Business, with a major in Finance, at the HIOA Business School until June 2018. He has worked at Handelsbanken and Unilabs and most recently at Aleris Hospital as a Junior Controller and Research Assistant.
Sayed has a passion for learning and personal growth at work, both in a team context and individual, is important to him. He enjoys sport. He is fluent in Norwegian and English.

Board of Directors

Olga Godinho, Chairman of the Board

Olga Godinho started her career in 1987 at Investec Bank. Subsequently she worked at the newly established Hong Kong Securities and Futures Commission in a team of 6 including the Chairman, responsible for establishing the framework for listed derivatives and for approving new issuance of derivatives. She joined Goldman Sachs in New York in Equity Derivatives Structured Products, structuring, pricing and risk managing equity derivative solutions to Institutional Clients and Ultra High Net Worth Individuals. In 2000 she set up her business working with select global Clients, advising, negotiating and acquiring high value financial investments, real estate and art.
She holds a MBA from London Business School, speaks Portuguese, English, German and French.

Gudrun Bugge Andvord, Board Member

Gudrun Andvord has been practicing as a business lawyer since 2005. Her main focus is corporate law and national and international taxation of corporates and individuals. She started her career working with tax and regulatory issues in the Ministry of Finance in 1984. She was Vice Chairman of the Appeal Board of Petroleum Taxation (2006 – 2011) and later Head of the Norwegian Oil Taxation Board (2011 – 2015). She was appointed member of the Shipping Taxation Committee, and is presently a member of a governmental expert committee evaluating the structure and taxation of Norwegian fisheries. After several years as appointed judge (Oslo City Court) she joined Advokatfirmaet Selmer’s tax group in 2008, and since 2013 she has been a partner in Advokatfirmaet Seland DA. She holds a Master of Law from the University of Oslo 1981, speaks English and Norwegian.

Christian Wist, Board Member

Christian Wist is the CEO of the real estate company NHP Eiendom AS in Trondheim. From 2007 -2015 he was a Partner with Pretor Advokat AS, where he specialized in Technology, Telecom, Contractual and Corporate law. Christian also served as a Trustee in Bankruptcy, appointed by the Court. Prior to Pretor, Christian worked at Telia Marked AS and Enitel AS in connection with the deregulation of the Norwegian telecom industry from 1997 and 1998. Later Christian worked as a lawyer assisting the Trustee adv. Knut Ro managing bankruptcy negotiations in Enitel AS/ASA. He was admitted to the Bar (Adv. fullmektig) in 2000. He holds a Cand. Jur. from the University of Oslo, speaks Norwegian and English.

The Group

Safe Deposit Bank of Norway is fully owned by Safe Deposit Holding ASA

Board of Directors

Christian Wist, Chairman of the Board

Christian Wist is the CEO of the real estate company NHP Eiendom AS in Trondheim. From 2007 -2015 he was a Partner with Pretor Advokat AS, where he specialized in Technology, Telecom, Contractual and Corporate law. Christian also served as a Trustee in Bankruptcy, appointed by the Court. Prior to Pretor, Christian worked at Telia Marked AS and Enitel AS in connection with the deregulation of the Norwegian telecom industry from 1997 and 1998. Later Christian worked as a lawyer assisting the Trustee adv. Knut Ro managing bankruptcy negotiations in Enitel AS/ASA. He was admitted to the Bar (Adv. fullmektig) in 2000. He holds a Cand. Jur. from the University of Oslo, speaks Norwegian and English.

Olga Godinho, Board Member

Olga Godinho started her career in 1987 at Investec Bank. Subsequently she worked at the newly established Hong Kong Securities and Futures Commission in a team of 6 including the Chairman, responsible for establishing the framework for listed derivatives and for approving new issuance of derivatives. She joined Goldman Sachs in New York in Equity Derivatives Structured Products, structuring, pricing and risk managing equity derivative solutions to Institutional Clients and Ultra High Net Worth Individuals. In 2000 she set up her business working with select global Clients, advising, negotiating and acquiring high value financial investments, real estate and art.
She holds a MBA from London Business School, speaks Portuguese, English, German and French.

Monica Haugan, Board Member

Monica Haugan is the Chairman of the Board of the real estate company Utstillingsplassen Eiendom AS in Norway. Monica has worked in the Treasury of Telenor ASA as Director and Head of Front Office for more than ten years and joined Statkraft AS in 2008 and headed the Front Office Treasury for more than three years. She serves on several boards, including Eidsiva Energi AS. Monica holds a dual MBA from Bocconi in Milan and from the Norwegian School of Economics. She is a Chartered Financial Analyst (Autorisert Finansanalytiker).

Harry Konterud, Board Member

Harry Konterud held the position as CEO of Sparebanken Hedmark for 25 years, after a 10-year career on top-management level in Norske Skogindustrier AS. He also held the position as Chairman of the Norwegian Savings Banks’ Guarantee Fund during the Norwegian banking crisis in the 1990’s. In 2011 he was awarded the Order of St. Olav by the King for his services in the finance sector. He now holds several positions as chairman and member of the board within finance and industrial companies.

Daniel Vock, Board Member

Daniel Vock has been an analyst, portfolio manager and investor over his entire career. After having worked with BZ Bank AG and Cantrade Bank AG, he joined 1999 Acorma AG, a single Swiss family office, where he serves in the role of their Chief Investment Officer and as a member of various boards.
Daniel is a Chartered Financial Analyst (CFA) and holds a dual MBA from the University of Rochester and the University of Berne, Switzerland. He speaks German, English and French.

Safe Deposit Bank of Norway AS is regulated by Finanstilsynet (Financial Services Authority of Norway)

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