Norway's DNB ASA overhauled its organizational structure and its management team, which has a 50/50 gender distribution, led by Group CEO Kjerstin Braathen, who was appointed to the post earlier in June.
Braathen and Ottar Ertzeid, who was named CFO in July, assumed their roles Sept. 1.
Harald Serck-Hanssen is the head of the Norwegian banking group's new business area of corporate banking, which previously comprised the business areas corporate banking and large corporates and international.
As part of the changes in its organizational structure, the lender said IT development resources are being incorporated into the business areas, while groupwide IT services and operations and automation responsibilities are transferred to the new technology and services support unit led by Maria Ervik Løvold. People has also become a separate support unit.
The rest of DNB's group management team is currently made up of head of personal banking Ingjerd Blekeli Spiten, head of wealth management Håkon Hansen, head of markets Alexander Opstad, head of group risk management Ida Lerner, head of group compliance Mirella Wassiluk, head of people Kari Bech-Moen, head of payments and innovation Rasmus Figenschou and head of communications Thomas Midteide.
The lender also raised interest rates on home mortgages by up to 0.25 percentage point after the Norwegian central bank increased key rates by 0.25 percentage point to 1.50%, effective Sept. 20.
"The last few years, the interest rates in Norway have been record low, and an increasing key policy rate from the Norwegian central bank is a sign that the Norwegian economy is still doing well. This has an effect on mortgage interest rates, and that is why they are now being raised," Blekeli Spiten said.
DNB noted that customers will be contacted through the Internet bank or a letter by regular mail regarding how the adjusted rates will affect their mortgage. Interest rate adjustments for affected customers will take effect Nov. 7.
