Per Olav Karlsen’s Cleaves Securities has purchased independent Norwegian investment and research company Gersemi Research.

Gersemi is led by former Nordea and Fearnley Securities analyst Joakim Hannisdahl, who will join the Cleaves team.

Karlsen, chief executive of Cleaves Securities, said: “We trust the acquisition of Gersemi and the appointment of Joakim as head of research, will significantly increase our advisory capabilities especially in regards to capital raises and M&A activities.