Kaupthing Bank, Iceland's largest investment bank, is to launch a rights issue and a subordinated bond to fund its acquisition of the Danish lending arm of Swedbank, the financial services group.

The deal will double Kaupthing's size - assets growing from 601bn Icelandic crowns (€6.9bn) to 1.47 trillion Icelandic crowns - and bolster its presence in the Nordic region.

Kaupthing launches rights issue to fund €1.3bn Danish deal

Caroline Meehan

Morgan Stanley

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Coutts hires ex-JPMorgan banker James Todd as next private client boss

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Todd replaces Camilla Stowell who left the NatWest-owned wealth in January

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The private-equity firm’s profit rose amid what its executives called the best environment for selling assets in years.

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