Original announcement entitled "Danske Bank expands Executive Board and senior managers shift responsibilities".



Stock Exchange Announcement No 7/2006
Danske Bank expands Executive Board and senior managers shift responsibilities
Today, the Danske Bank Group’s Board of Directors approved the appointment of three new members of the Executive Board. In addition, the areas of responsibility of a number of senior managers will change.

The new Executive Board members are: Tonny Thierry Andersen (aged 41), Chief Financial Officer; Sven Lystbæk (aged 54), head of Danske Bank’s Shared Services Centre; and Per Skovhus (aged 46), head of the Danske Bank DK division. All are members of Danske Bank’s Executive Committee.

Accordingly, the Danske Bank Group’s Executive Board will consist of the following:

Peter Straarup, Chief Executive Officer and Chairman
Jakob Brogaard, Deputy Chairman
Tonny Thierry Andersen
Sven Lystbæk
Per Skovhus

“The changes are part of the ongoing succession process at Danske Bank and are also made to secure the direct representation on the Executive Board of central, Group-wide areas such as finance, technology and credit risk,” says Peter Straarup, Chairman of the Executive Board.

Jakob Brogaard, Deputy Chairman, will be 60 in June, 2007, and wishes to retire at that time, after 43 years with the Bank, 11 as a member of the Executive Board. Brogaard will continue to perform special tasks for the Group for some time after June, 2007.

Tonny Thierry Andersen will continue as head of Group Finance.

Sven Lystbæk will continue as head of the Shared Services Centre.

Per Skovhus, who is now in charge of the Danske Bank DK division, will become head of Credits.

Other appointments
The new head of the Danske Bank DK division will be Henrik Normann (aged 53), who is currently in charge of Danske Markets.

Steen Blaafalk (aged 45) will succeed Normann as head of Danske Markets and will at the same time be appointed senior executive vice president and member of the Executive Committee. Blaafalk is today executive vice president at Danske Markets, where he heads Treasury & Equities.

Jørgen Klejnstrup (aged 53), Senior Executive Vice President and head of International Business Development, will join the Executive Board of Danica Pension. Klejnstrup will, among other responsibilities, be in charge of the increased internationalisation of pension product sales through the Group’s banking divisions outside Denmark and of strengthening Danica Pension’s administrative systems. While he assumes the managerial responsibilities at Danica Pension, Klejnstrup will be a “sleeping” member of Danske Bank’s Executive Committee.

The Bank’s new Executive Committee will consist of the following:

Peter Straarup, Chief Executive Officer and Chairman
Jakob Brogaard, Deputy Chairman
Tonny Thierry Andersen, Head of Group Finance
Sven Lystbæk, Head of the Shared Services Centre
Per Skovhus, Head of Credits
Steen Blaafalk, Head of Danske Markets
Thomas Borgen, Managing Director, Fokus Bank, Norway
Andrew Healy, Chief Executive Officer, National Irish Bank, Ireland
Søren Kaare-Andersen, Head of BG Bank
Lars Mørch, Head of HR Development
Henrik Normann, Head of Danske Bank DK
Don Price, Chief Executive Officer, Northern Bank, Northern Ireland
Steen Reeslev, Head of Communications
Mats Torstendahl, Head of Danske Bank, Sweden


Danica Pension’s Executive Board will consist of the following:

Henrik Ramlau-Hansen, Chief Executive Officer
Jørgen Klejnstrup
Jesper Winkelmann

New department: Business Development
The Group will continue to focus on developing banking concepts designed to optimise customer services. In this context, a new department will be established – Business Development. It will have responsibility for the further development of the Group’s retail concept. The area will be headed by Per Hviid (aged 41), Senior Vice President, who will also be appointed executive vice president. Hviid is currently in charge of Retail Solutions at the Shared Services Centre.

We enclose a chart showing the Group’s new organisational structure and an organisation chart of the Danica Group.

The appointments to the Executive Board will take effect on September 1, 2006. The other changes will be made in the course of the third quarter of the year.

Contact:
Peter Straarup,
Chairman of the Executive Board, tel. +45 33 44 01 07.

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