DNB Bank, the leading international shipping and energy bank, has appointed Vidar Andersen its new Head of Asia, based in Singapore with immediate effect.
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." 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.
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 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."