Luminor appoints Palle Nordahl as Chief Financial Officer

The Supervisory Council of Luminor Bank AS ("Luminor" or "the Company"), 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.

Palle Nordahl will start in his new position from 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.

Head of Supervisory Council of Luminor, Nils Melngailis, said: "We are very 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 development."

Luminor CEO, Peter Bosek, said: "After completing our funding and our 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 and I am very glad that he is joining our team."

Luminor, CFO-appointee, Palle Nordahl said: "In my career, I have been driven by transforming and developing companies. I am very excited to join Luminor's team at this exciting time for the company. I look forward to being a part of the dynamic Baltic economies and the transformation journey of Luminor to become the local banking champion."