Helen Riley, head of the gas department of shipbroker Lorentzen & Stemoco (L&S), is leaving the company to join finance house Pareto in Oslo.

The departure follows extensive turbulence at L&S this year, which has seen the heads of the tanker, dry-cargo and sale-and-purchase (S&P) teams depart (see story, page 20).

Many of the brokers who have left this year have done so because of the chaos created by major disagreements between the Tidemand and Lorentzen families that jointly control the company.

But it is understood that Riley’s decision is only partly related to the situation at L&S, TradeWinds has learned.

Riley, who is a partner, joined the shop in 2009 and has been working in the gas business for 15 years. She previously worked with Petredec and broker Inge Steensland in Oslo.

She does not want to comment on the situation.

L&S has completed a rebuilding of its gas department after most of the team, including boss Thor Erik Lie, left to work at compatriot broker Joachim Grieg & Co two years ago.

Also leaving L&S for Pareto is analyst Nicolai Hansteen.

The shipbroking activity of Pareto includes S&P, dry cargo and subsidiaries PF Bassoe and Johan G Olsen.

The S&P team will total 19 people by early next year, including 10 brokers in a newly established venture with Paris-based Barry Rogliano Salles (BRS) in Shanghai.

The recently appointed chairman of L&S, Kristen Jakobsen, was previously a director of Pareto.