Nordea Names Torsten Joergensen New CFO as Rystedt Steps Down

Nordea Bank AB (NDA), the Nordic region’s largest lender, said it has appointed Torsten Hagen Joergensen as its new chief financial officer to replace Fredrik Rystedt, who will leave the lender after more than four years.

Joergensen’s new position will be effective immediately, Stockholm-based Nordea said in a statement today. The bank also appointed its head of Swedish banking operations, Hans Jacobson, to country senior executive in Sweden, it said.

Joergensen, 47, started his banking career in 1987 as a macroeconomic and fixed income analyst at Denmark’s Provinsbanken A/S. He also worked at Gudme Raaschou Bank A/S, Nykredit Holding A/S, BG Bank A/S and Danske bank A/S (DANSKE) before joining Nordea’s asset management and life business in 2005. Joergensen was head of group strategy in 2007 before becoming head of group treasury in 2009. He has been the head of group operations and other lines of business at Nordea since 2009.

“Fredrik has been a competent and highly professional CFO and contributed substantially in managing Nordea through the European financial crisis,” the bank said in the statement.

Rystedt became Nordea’s CFO in September 2008, after having had the same position at Swedish appliance maker Electrolux AB. (ELUXB)

To contact the reporter on this story: Niklas Magnusson in Stockholm at nmagnusson1@bloomberg.net

To contact the editor responsible for this story: Frank Connelly at fconnelly@bloomberg.net

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