Alfred Berg has joined Grupo Santander's rota of investment banking advisers for the first time, working on the Spanish banking giant's €400m ($327m) acquisition of Elcon, Norway's largest vehicle finance company, from Den norske Bank.

Santander hired Alfred Berg, the Nordic corporate finance and stockbroking subsidiary of ABN Amro, to capture Elcon ahead of local bidders. The deal is Santander's first foray into the Nordic region as it continues the expansion of its consumer finance operation across Europe.