The Scandinavian Nordea Bank has appointed Frank Vang-Jensen with immediate effect as new CEO and successor to Casper von Koskull, who is retiring.
51-year-old Vang-Jensen was previously director of the Personal Banking unit at the group and joined Nordea in 2017. Von Koskull announced his retirement last summer. He has led the financial group since 2015 and remains involved with Nordea until next year to guide the transition.
In recent years, Nordea has been heavily involved in job cuts and large-scale automation to save costs. In 2016, the Helsinki-based company made a merger attempt with ABN AMRO, but that proposal failed.