New organisational structure will improve competitive power

DNB is adapting to changes in the market and is changing the Group’s organisational structure. Both customer behaviour and regulatory changes for the banking industry make it essential to adapt to the new banking reality.

”We have been very successful in the market over the past few years. DNB has become a well liked bank and a considerably stronger brand. Parallel to this, we have recorded profitable growth within our priority areas. However, both the regulatory framework for the financial services industry and customer needs are subject to rapid change. In order to maximise our competitive power in the future, we are adapting our organisation to reflect these changes,” says group chief executive Rune Bjerke.

Separating personal and corporate banking
Over the past year, Norwegian bank customers have really entered the digital era. In 2012, DNB recorded ten million online bank visits every single month, and mobile banking services were used some seven million times a month. The new business area Personal Banking Norway will serve the bank’s personal customers in all channels, both digital and physical. Corporate Banking Norway will serve small and medium-sized companies and increase its focus on the largest industries in this segment. 

Over the past year, DNB has been very successful in making Norwegians save more. The bank will further strengthen its focus on savings and asset management by establishing the business area Wealth Management, which will include Private Banking and Asset Management.

The largest product units, such as DNB Finans, DNB Livsforsikring and DNB Skadeforsikring, will be organised under Products and Business Development.

IT and Operations in one unit
In step with new, wide-reaching regulations, the complexity of the financial services industry has increased. DNB is thus establishing Risk Management as a separate support unit.

DNB will organise the IT development units and the largest internal users of the IT systems in one and the same support unit, IT and Operations.

DNB’s new group management team
Trond Bentestuen, head of Personal Banking Norway (member of the group management)
Kjerstin R. Braathen, head of Corporate Banking Norway (member of the group management)
Harald Serck-Hanssen, head of Large Corporates and International (member of the group management)
Ottar Ertzeid, head of Markets (member of the group management team)
Tom Rathke, head of Wealth Management (member of the group management)
Kari Olrud Moen, head of Products and Business Development (member of the group management)
Liv Fiksdahl, head of IT and Operations (member of the group management)
Bjørn Erik Næss, head of Group Finance (member of the group management)
Trygve Young, head of Risk Management (member of the group management)
Solveig Hellebust, head of HR (member of the group management)
Thomas Midteide, head of Corporate Communications (in group management meetings)
Leif Teksum, head of Relations (in group management meetings)

The group executive vice presidents have been appointed today, while the new organisation will become operative with effect from 1 April. DNB expects its financial accounts reporting to follow the new structure as from 1 January 2014.

This information is subject to the disclosure requirements according to Section 5-12 of the Norwegian Securities Trading Act.