Bankers Capital International (BCI) and Cleaves Securities have announced they are cooperating to expand their ship finance operations.

The New York investment bank and the Norwegian financial advisor said further announcements will follow.

For now, they have hired two experienced bankers to help with their plans: Sandy Reddin and Kathleen Menten, who have both worked at KGS Alpha.

Per Olav Karlsen, Cleaves CEO, said: "Our overall growth strategy has consistently contemplated a high-quality, US-based platform.