Danske Bank A/S' chiefs for finance and operations are quitting amid a wider shakeup of its executive board, which will now be called the executive leadership team.
Christian Baltzer stepped down as the Copenhagen-based lender's CFO, a role he held since October 2018. Stephan Engels will succeed Baltzer in April 2020, when his contract as CFO of Commerzbank AG expires. Engels, who has been with the German bank since April 2012, opted not to renew his contract so that he can "take on a new international challenge."
Jacob Aarup-Andersen will act as Danske Bank's CFO until Engels takes over, after which he will become head of Danish banking. Aarup-Andersen would be succeeding Jesper Nielsen, who the bank booted out in June. Glenn Söderholm currently assumes responsibility for the business.
COO Jim Ditmore also resigned after being in the role since 2014. Danske Bank said it has commenced the search for Ditmore's successor, but until an appointment is made, CEO Chris Vogelzang will be COO.
In addition, the bank named Berit Behring to replace Aarup-Andersen as wealth management head. Behring will also take responsibility for Danske Bank's Northern Ireland operations while continuing as country head for Sweden in the interim until a successor for that role is identified. Behring will also take groupwide responsibility for Danske Bank's societal impact and sustainability activities.
Moreover, the group's private banking operations would be separated from the wealth management unit and transferred to banking divisions to better align its banking offerings.
Frederik Gjessing Vinten will leave his post as head of group development as the team will be dissolved, with most of its activities transferred to banking units. Vinten will remain with the bank until mid-November for a smooth handover.
All changes take effect immediately.
