SEB names new head of Danish division

The large Swedish bank is starting the handover process for the new head of Danish operations.

Photo: Ints Kalnins/Reuters/Ritzau Scanpix

SEB will appoint a new head of its Danish department when the company celebrates 25 years in the country in 2022.

Peter Høltermand, who has been the head of the Danish division for 18 years and helped to establish the Copenhagen branch in 1997, is stepping down at this time.

Mark Luscombe will take over, and therefore be responsible for around 458 employees.

"SEB in Denmark is in a strong position today, with a clearly defined strategy targeting large businesses, institutional customers and wealthy private individuals. After 23 years of management in Denmark, I think that it is the right time to pass the responsibility for SEB in Denmark on to the next generation. It will be a big and important task, which I look forward to completing with Mark Luscombe over the next two years," says Høltermand in a press release, where he also says that he wants to spend more time on his board career.

Luscombe has been responsible for expansion in the British market over the past five years, and is the former head of corporate banking in Denmark. Starting in August, he will be the head of the department for large customers and financial institutions, before he later takes over the full role as country head.

"SEB has a strong foundation in Denmark, which builds upon engaged employees and long-term customer relations. I am very much looking forward to coming back and taking on the important tasks that are needed to build up our position, ensure the continued development of the business and keep the special culture that SEB is known for in Denmark," Luscombe says in the press release.

Concern CEO Johan Torgeby says:

"With this long-term succession plan in place, we are sure that we can maintain the strong SEB culture and continue to develop our business with our customers in Denmark."

At the same time, the UK will also get a new country head, as Anders Engstrand, who is head of Debt Capital Markets, is moving to London.

SEB's Danish division had a revenue of EUR 348 million (DKK 2.6 billion) in 2018.

English Edit: Catherine Brett

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