DNB Bank Announces Senior Appointments to Spearhead Further Growth in Asia

DNB Bank, the leading international shipping and energy bank, has appointed Vidar Andersen its new Head of Asia, based in Singapore, effective from today.

In a related move, Mats Wermelin has been appointed the bank’s new Head of China based in Shanghai, a post which was previously held by Mr Andersen.

Group Executive Vice President (Large Corporations and International), Harald Serck-Hanssen, welcomed Mr Andersen and Mr Wermelin into their new positions.

He said:"Vidar's understanding of the needs of Asia's markets and its business sensibilities is without peer. He is the right person to take command and spearhead our next phase of development in the region."

Vidar Andersen assumes control of the bank's operations across Asia after eight years in Shanghai. He was first Vice President of Energy, Trade & Industry then, since 2011, Senior Vice President and Head of China. During his time in China, he achieved a fourfold increase in national profitability for the bank.

Mr Andersen joined DNB in 2001. He worked in both Oslo and New York prior to Shanghai.

Mr Serck-Hanssen also thanked the outgoing regional head of DNB Bank, Erik Borgen, who has held the position since 2004 and is stepping down to pursue other interests. He noted that Erik Borgen had served the bank with distinction for 34 years in Oslo, New York and Singapore.

"Erik has been the master key to our growth and achievements in the Asia region in recent years," said Mr Serck-Hanssen. “He leaves DNB in excellent shape in Asia and well prepared for our next phase of engagement with this region and our next phase of growth. Everyone at the bank wishes him the very greatest success in his next endeavor," he added.

Mr Serck-Hanssen also welcomed Mats Wermelin as the bank’s new leader in the key China market.

"Mats comes to Shanghai after seven highly impressive years as Head of Corporate Banking, Sweden, in our Stockholm office," said Mr Serck-Hanssen. "He is ready to accept this new challenge and has robust plans to drive our business further forwards while maintaining the very highest level of service to our clients in China."

Mr Serck-Hanssen added: "Asia is the world's economic powerhouse in many respects, certainly in terms of shipping and the energy markets. We do not see that situation changing soon. At DNB, we remain fully committed to the region and to safeguarding the interests of our clients worldwide who, thanks to long standing relationships, trust us here with their business."