About SDBN

SDBN makes the financial system safer by providing Central Bank-grade counterparty risk, unconditional liquidity, and a meaningful commercial advantage to Clients at a low, predictable, transparent cost.

SDBN makes the financial system safer by providing Central Bank-grade counterparty risk, unconditional liquidity, and a meaningful commercial advantage to Clients at a low, predictable, transparent cost.

Who we are

Counterparty risk diversification


SDBN is a financial infrastructure firm, not a traditional bank. It offers a single, unique service to institutional, regulated Clients.

SDBN is a direct participant at the German Central Bank (Deutsche Bundesbank). Its specialised business model restricts it to the single banking function of placing, as agent, EUR Client deposits, one-to-one, directly with the Central Bank – it is a dedicated pipe with a highly controlled valve. Thus, SDBN gives Clients a differentiated tool to manage and diversify cash balances. Balances placed with a Central Bank via SDBN are 100% liquid, and have a low, transparent, fixed cost.


SDBN can provide this essential piece of infrastructure precisely and solely because it prohibits itself from performing any other banking business or function. This restriction allows SDBN to stand apart and insulated from the complex, interconnected system of banking and clearing. SDBN represents a vital safety valve not only for its Clients but also for the financial systems in which we all operate. SDBN is committed to supporting the stability of the financial ecosystem.


SDBN was created in direct response to the Great Financial Crisis of 2008. The crisis brought the safety and liquidity of cash itself into sharp focus. Cash instruments like Money Market Funds and even bank deposits, until then deemed “safe and liquid” proved not to be.

2012 – 2015

Norwegian bank analysts conceive the idea for a cash agent/custody bank
SDBN AS is established and offers a single currency NOK deposit product at Norges Bank

2015 – 2019


The bank introduces the EUR product with the German Central Bank, Deutsche Bundesbank
Today large European financial institutions, including CCPS, rely on SDBN to provide assured cash settlement and liquidity


SDBN Core Team

Morten Meland

Morten Meland worked at Goldman Sachs Bank AG Zürich for 15 years. Morten built one of the longest serving and most productive teams in the Private Wealth Management business with Clients in Europe and Asia. He was instrumental in creating specialized coverage for Family Offices and a Member of the Executive Committee of the Bank. Since 2013,

Morten advises a select number of Clients and Family Offices on optimal structuring of their investments, sourcing, evaluating and managing strategic ownership positions and overviewing strategic Asset Allocation decisions. He invests privately as well as alongside some of his Clients in a limited number of opportunities. He holds a lic.oec HSG from the University of St. Gallen, speaks Norwegian, German and English.

Mattias Haughom

Mattias Haughom began his career at SDBN medio 2020. Mattias holds a Master of Arts in Business and Finance from Edinburgh Business School, and a Master of Science degree in Business Analytics from BI Norwegian Business School. He speaks Norwegian and English.

Ane Elisabeth Grande
Clients and Governance

Ane joined SDBN ultimo 2018. She holds a bachelor’s degree in International Studies from Korea University in South Korea and a master’s degree in Public Administration with a specialisation in Innovation from Inland Norway University of Applied Sciences. Prior to working with SDBN, she worked at DNB as a Customer Advisor. She speaks Norwegian, English and Korean.

SDBN Advisory Group

Matthias Frisch

Matthias Frisch has worked at Goldman Sachs for 14 years as Head of Equities, Head of Equities Derivatives, as well as the CEO of GS Bank. Prior to working at Goldman Sachs, he worked at Julius Baer as Head of Equities Derivatives, and after his tenure at Goldman Sachs, he has been the CEO of Horizon21 Wealth Management. Between 2009 and 2013, Matthias had different roles at UBS; CEO of Investment Banking Switzerland, Vice Chairman of Investment Banking EMEA, Head of Global Banks Business and Member of the Executive Committee of UBS Switzerland. He holds positions as a Board Member, Investor and Advisor, within Asset and Wealth Management, Fintech, Venture Capital, Private Equity and Hedge Funds. He holds a lic.oec HSG from the University of St. Gallen.

Emilio Galli-Zugaro

Emilio Galli-Zugaro is the Chairman of Methodos S.p.A Milan, a change management company. He is a board member of the Allianz Cultural Foundation in Munich as well as the Giovanni Bassetti Foundation in Milan. He sits on several advisory boards (Nunatak, Actyx, GK Personalberatung et al.). As a Certified Business Coach, Emilio coaches C-suite people, teaches and publishes on leadership issues. From 1992 to 2015, he was Head of Group Communications of Allianz. Since 1996, he has been an Associate Lecturer of Corporate Communication and Crisis Communication at the Ludwig-Maximilians-University in Munich. Since 2006, Emilio has also been lecturing in Communicative Leadership at the executive programs of ESMT in Berlin. In 2016, he founded the Orvieto Academy for Communicative Leadership offering leadership workshops in Germany and in Umbria (Italy) for executives and communications professionals. He has co-authored two books  (“The Listening Leader”) in 2017, and “Ich bin so frei – Raus aus dem Hamsterrad und rein in den richtigen Job”, in 2018.

SDBN Board of Directors

Olga Godinho
Chairman of the Board

Olga Godinho joined the Board of SDBN in 2015. She started her career with Investec Bank in 1987. Subsequently she worked at the Securities and Futures Commission in Hong Kong, in a team of 6 including the Chairman, responsible for establishing the framework for listed derivatives and for approving new issuance of derivatives. In 1995 she joined Goldman Sachs, Equity Derivatives Structured Products in New York, structuring and pricing equity derivative solutions for Institutional Clients. In 2001 she started her own business working with select global Clients, advising, negotiating and acquiring high value financial investments, real estate and art. She holds an MBA from London Business School, is fluent in Portuguese, English, German and speaks some French.

Knut Bergo
Board Member

Knut Bergo joined the Board of SDBN in 2018. He is a lawyer, and former associate and partner of Advokatfirmaet Wikborg, Rein & Co (1992-2003) and partner of Advokatfirmaet Wiersholm (2003-2016) and Advokatfirmaet Schjødt (2018-2021). He specializes in finance law and general legal theory and has written a number of books and articles on these subject including Børs- og verdipapirrett and Tekst og Virkelighet i rettskildelæren. He is a former associate professor of the Norwegian Business Institute (BI) and regularly lectures at the University of Oslo. Knut was admitted to the Norwegian bar in 1994 and holds a Cand. Jur. and a Dr. Jur. degree from the University of Oslo. He speaks Norwegian and English.

Dominique Levy
Board Member

Dominique began her career trading cash shares in the Equities Division of Goldman Sachs, then moved to the buy side in 2002, and has spent the last 20 years as an investor. In 2007 she founded Sonian Capital Management, a global long/short value investing firm with a particular focus on European and Japanese companies. Dominique holds a BA from Wesleyan University and an MBA from Columbia. She is an avid collector of contemporary and vintage photography and serves on the Photography Acquisitions Committee of the V&A in London. She speaks English and French.

Christian Wist
Board Member

Christian Wist is the CEO of the real estate company NHP Eiendom AS in Trondheim. From 2007 -2015 he was a Partner with Pretor Advokat AS, where he specialized in Technology, Telecom, Contractual and Corporate law. Christian also served as a Trustee in Bankruptcy, appointed by the Court. Prior to Pretor, Christian worked at Telia Marked AS and Enitel AS in connection with the deregulation of the Norwegian telecom industry in 1997 and 1998. Later Christian worked as a lawyer assisting the Trustee adv. Knut Ro managing bankruptcy negotiations in Enitel AS/ASA. He was admitted to the Bar (Adv. fullmektig) in 2000. He holds a Cand. Jur. from the University of Oslo, speaks Norwegian and English.