Nykredit Hires Nordea’s Retail Head as CEO After Jensen Retires

March 18 (Bloomberg) -- Nykredit A/S, Europe’s biggest issuer of mortgage-backed covered bonds, has picked as its new chief executive officer Michael Rasmussen, the 48-year-old head of retail banking at Nordea Bank AB.

Rasmussen, who also is head of Danish operations for Nordea, will become Nykredit’s CEO Sept. 1 when Peter Engberg Jensen, 59, retires after seven years of leading the Copenhagen-based mortgage banker, Nykredit said.

“Nykredit has cleared the financial crisis well” under Jensen who established a “strong strategic platform” for ensuring the lender’s sustainability, board Chairman Steen Christensen said in a statement. Rasmussen’s mandate will be to carry through on that strategy, he said.

Lennart Jacobsen, 46, will become Nordea’s new retail banking chief as of today, the Stockholm-based lender said in a separate statement. Anders Jensen, head of Danish banking operations, will replace Rasmussen as head of Nordea Bank Danmark.

To contact the reporter on this story: Frances Schwartzkopff in Copenhagen at fschwartzko1@bloomberg.net

To contact the editor responsible for this story: Tasneem Brogger at tbrogger@bloomberg.net