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Danske Bank expands Executive Board and appoints new heads of its units in Norway and Sweden

Company Announcement No 21/2009

Danske Bank expands Executive Board and appoints new heads of its units in Norway and Sweden

Danske Bank’s Board of Directors has today decided to expand the Executive Board and has appointed Thomas F. Borgen (aged 45) member of the Executive Board with effect from September 1, 2009.

Thomas F. Borgen has been employed by Danske Bank since 1997, holding the position as Managing Director of Fokus Bank, Danske Bank’s unit in Norway, since January 2001. When he joins the Executive Board, Thomas Borgen will be responsible for the Group’s international banking activities and for Danske Markets.

"The appointment of Thomas Borgen further strengthens our banking activities and Danske Markets in a period with substantial challenges,” says Peter Straarup, Chairman of Danske Bank’s Executive Board. “By expanding the Executive Board, we will be able to focus even more on the areas that will secure Danske Bank a strong position on the other side of the crisis," Straarup continues.

New head of Fokus Bank will be Trond Mellingsæter (aged 43), who leaves a position in charge of Fokus Bank’s Mid-North region. Trond Mellingsæter joins the Danske Bank Group’s Executive Committee.

Danske Bank in Sweden will also see a change of management. New head of the Group’s Swedish banking activities will be Member of the Executive Committee Lars Mørch (aged 37). Lars Mørch has been employed by Danske Bank since 1999 and is currently in charge of Group HR & Communications. On January 1, 2010, Lars Mørch will succeed Leif Norburg who wishes to retire. A new head of Group HR & Communications is yet to be appointed.

The Executive Board will consist of:
Peter Straarup, Chairman
Tonny Thierry Andersen, (Group Finance)
Thomas F. Borgen (International banking activities and Danske Markets)
Sven Lystbæk (Group Shared Services Centre)
Per Skovhus (Group Credits)

The Executive Committee will consist of the members of the Executive Board and the following executives:
Steen Blaafalk, Danske Markets
Ilkka Hallavo, Sampo Bank, Finland
Andrew Healy, National Irish Bank, Ireland
Gerry Mallon, Northern Bank, Northern Ireland
Trond Mellingsæter, Fokus Bank, Norway
Niels-Ulrik Mousten, Danske Capital
Lars Mørch, Danske Bank, Sweden
Henrik Normann, Danske Bank Denmark
Georg Schubiger, Group Business Development
Mads Jacobsen, Chairman of the boards of directors of the Group’s Baltic units (associate member)

Peter Straarup, Chairman of the Executive Board, tel. +45 45 14 60 01