Turmoil continues at Oslo-based broking firm Lorentzen & Stemoco (L&S), with owner Otto Gregard Tidemand increasing his involvement and some key brokers heading for the exit.

Tidemand, 63, is assuming a more active role at the brokerage, with his daughter, Caroline, handed a senior management position.

She has been appointed chief operating officer, which leaves her as the effective head of the company, sources say.

Thomas