Danske Bank’s wealth management head departs

Tonny Thierry Andersen, head of Wealth Management and member of the executive committee of Danske Bank, is stepping down from his role on 1 May 2018.

Andersen works at Danske Bank since 18 years having been the firm’s wealth management chief since 2016. He occupied positions of head of Personal Banking and head of Danske Bank DK and RealKredit Danemark.

In a message posted on his Linkedin profile, Andersen explains: “In the context of a new, ambitious business strategy (which is the right one) and a larger reshuffle in the management team, I have also been offered a new and exciting position in the executive Board (…) I have decided to say no thanks and I am therefore resigning. I’m 53 years old and if I’m going to try to out a senior executive position outside Danske Bank, then I believe it’s now.”

He adds this has been a tough decision given his long tenure with Danske Bank but feels “absolutely ready for the next phase” of his career.

Jacob Aarup-Andersen new wealth management head, Danske Bank reshuffles organisation
Succeeding Andersen, Danske Bank’s current chief financial officer, Jacob Aarup-Andersen, has been appointed head of Wealth Management, effective 2 May 2018.

Danske Bank has also announced a number of changes within its organisation. As from 2 May 2018, its personal banking and business banking, which currently operate as separate business units, are merged into country organisations within two new units; Banking DK and Banking Nordic (Norway, Sweden and Finland).

Banking DK will be led by Jesper Nielsen, currently head of Personal Banking while Banking Nordic (Norway, Sweden and Finland) will be headed by Glenn Söderholm, who is currently head of Corporates & Institutions.

Trond Mellingsæter and Berit Behring are appointed country heads of Norway and Sweden, respectively. The recruitment process of a new country head for Finland has started as Risto Tornivaara will retire as planned.

The Wealth Management and Corporates & Institutions (C&I) business units maintain their global organisations. Jakob Groot, who is currently Global Head of FICC, will become head of C&I and member of the executive board.

“In order to strengthen our business development activities, we will gather all development capabilities in a new unit called Group Development. Danske Bank will expand its Executive Board by four members, as Henriette Fenger Ellekrog (Group HR), Jakob Groot (C&I), Frederik Gjessing Vinten (Group Development) and Christian Baltzer (CFO area) are appointed Executive Board members. Christian Baltzer will take up his position on 15 October 2018,” Danske Bank announced.

The new Group Development unit will aim to strengthen the company’s development activities across the group, including group strategy, product development, partnerships and marketing.

Adrien Paredes-Vanheule
Adrien Paredes-Vanheule is deputy editor and French-Speaking Europe Correspondent for InvestmentEurope, covering France, Belgium, Geneva and Monaco. Prior to joining InvestmentEurope, he spent almost five years writing for various publications in Monaco, primarily as a criminal and financial court reporter. Before that, he worked for newspapers and radio stations in France, in particular in Lyon.

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