Olof Seidel will assume the positions of Chief Financial Officer (CFO) and Chief Operating Officer (COO) of NORD/LB. As General Representative, he will take on the role of head for Finance/Tax, Group IT and other areas. He will report directly to Thomas Bürkle, the Chairman of the Management Board of NORD/LB. The bank’s Supervisory Board indicated its approval of this appointment at its meeting today. At the same time, it declared its intention to appoint Seidel as a member of the Managing Board once the required banking supervision conditions have been met. Seidel will assume his new post on 1 May 2018 and take over the tasks of Ulrike Brouzi, who is moving to the Managing Board of DZ Bank.
From 2010 until the end of 2016 Olof Seidel was CFO and COO on the Managing Board of DNB Bank Polska S.A. in Warsaw, which belongs to the Norwegian DNB Group. During this time he bore responsibility for a comprehensive restructuring programme, which made the bank profitable again. The 50-year-old economics graduate was employed at NORD/LB until 2005 and, as project manager, subsequently helped build up the former joint venture DnB NORD A/S in Copenhagen operated together with DNB Nor. At the beginning of 2017 Seidel returned to NORD/LB and since then has been responsible for the group-wide One Bank transformation programme. In addition, he has been head of the Bank Management and Transformation department at NORD/LB since 1 July 2017.
“In Olof Seidel we are gaining an outstanding manager who has sound experience in transforming a company,” declared Bürkle. “He has excellent knowledge of NORD/LB and has garnered international management experience in both market divisions and back office. Olof Seidel is an asset for NORD/LB, both humanly and professionally.”
About NORD/LB
With total assets of € 165 billion, NORD/LB Norddeutsche Landesbank is one of Germany’s leading merchant banks. Its core business segments include structured finance in the energy and infrastructure sector, ship and aircraft finance, corporate client business, commercial real estate finance, capital market business and private and commercial client business including private banking. The Bank has its head office in Hanover, Braunschweig and Magdeburg. NORD/LB also has branches in Bremen, Oldenburg, Hamburg, Schwerin, Düsseldorf, Munich, and Stuttgart. Outside Germany, NORD/LB is active in Luxembourg with a covered bond bank (NORD/LB Covered Bond Bank) and also has offices in London, New York, Singapore and Shanghai.
