ShippingWatch

Pareto-owner has raised billions for shipping

Norwegian Svein Støle has become a billionaire by, among other things, consulting investors in the shipping industry through Pareto Securities.

51-year-old Norwegian Svein Støle has taken his career a bit further than most of his former journalist colleagues.

As majority shareholder in brokerage firm Pareto, Svein Støle is now ranked 11th on Norwegian magazine Kapital's annual list of the 400 richest people in Norway, with a fortune of around USD 1.5 billion. A contributing factor has been Pareto Securities' role as financial advisor to investors in the shipping industry, where the firm in 2013 helped raise USD 2.3 billion, according to Kapital, and the magazine describes Pareto as the closest thing Norway gets to something like Goldman Sachs.

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