Nordea names former Handelsbanken boss as new CEO

Finland’s Nordea on Thursday named Frank Vang-Jensen, head of personal banking at the Nordic region’s biggest bank, as its new chief executive, who pledged to keep a close eye on costs at the group.

Vang-Jensen, who has worked at Nordea since

2017, was a former chief executive at rival Handelsbanken but was ousted abruptly from that role in 2016 after only 18 months in the job.

Nordea said out-going CEO Casper von Koskull, whose retirement was flagged in June, would stay with the bank until 2020 to secure an orderly transition.

Vang-Jensen will take over as Nordea and other banks across the Nordic region are facing pressure on profits, including from low interest rates and tough competition in mortgages and loans.

Nordea reported weak second-quarter numbers in July and said it would review its financial targets in coming months.

• Reuters