The Supervisory Council of Luminor Bank AS, one of the leading banks in Estonia, Latvia and Lithuania, has named Palle Nordahl as Chief Financial Officer and member of the Management Board of Luminor.
Mr. Nordahl will join Luminor on 1 May 2021. Luminor’s Head of Treasury, Olof Sundblad, who has acted as CFO on an interim basis, will work closely with Palle to ensure a seamless transition.
Palle is currently Head of Group Finance and Investments at Nykredit, one of Denmark's leading financial services companies, where he is a member of its Executive Committee. He has significant experience as a CFO in different companies.
Chairman of Supervisory Council of Luminor, Nils Melngailis, said: "We are pleased to welcome Palle to the Luminor management team. His background and experience make him an excellent fit for the position of Luminor's CFO as the bank embarks on its next phase of its development."
Luminor Chief Executive Officer, Peter Bosek, added: "After completing our funding and technology carve-out, we are putting all of our efforts into improving customer satisfaction, digital development and growth. Palle has proven himself to be a strong leader with experience in complex transformations. I am delighted he is joining our team."
Luminor, CFO-appointee, Palle Nordahl commented: "In my career, I have been driven by transforming and developing companies. I am very excited to join Luminor at this exciting time for the company. I look forward to being a part of the dynamic Baltic economies and the transformation of Luminor to become the local banking champion."
This appointment is subject to regulatory approval by the European Central Bank.
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