Mr Private Banking in Luxembourg retires

Jhon Mortensen (62) will end of April 2014 retire from his positions as CEO of Nordea Bank S.A. His interesting career also brought him to Singapore, where he was head of Nordea’s branch office for several years. Before joining Nordea’s Private Banking subsidiary in Luxembourg in 1991 Mr. Mortensen worked for the London subsidiary of Nordea.

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During the years of Mr. Jhon Mortensen’s leadership the Nordea Private Banking developed into the leading Nordic bank in international private banking.

Founded in 1976, Nordea Bank S.A. is the largest Nordic bank in Luxembourg and Switzerland, serving an international clientele in 120 countries throughout the world.

“To accomplish growth and stability for the bank we have focused on our clients. We would like the clients we have now to still be our clients in 20 years’ time – and we would like to welcome their children as clients of Nordea, too,” says Mortensen.
An increasing number of individuals are becoming more globalized, working and doing business abroad, sometimes in several countries. These individuals have more complex needs with regards to banking and international wealth management. In Luxembourg, Switzerland and Singapore Nordea has assembled a broad team of experts in wealth management and wealth planning specialised to provide the services requested by these globalised individuals.

“The days when Private Banking clients simply required investment advice are long gone. Now, an increasingly complex legal and regulatory environment has obliged providers of financial products and services to take a comprehensive advisory approach that also includes taxation, inheritance- and succession-planning, as well as insurance and real estate,” says Mortensen.

“As a good example of this Nordea is one of the few banks who can provide tax reports for all relevant countries to assist clients in the preparation of their periodic tax declarations to the authorities. Nordea’s tax report facilitates the completion of tax returns, even for complex account structures, and provides a clear tax overview for clients and their advisors”, says Mortensen.

The Nordea Group has a very strong capital base and benefits from an excellent credit rating (AA-), and is the leading financial services provider in the Nordic area. For six consecutive years, Nordea was named the best provider of private banking services in the Nordic & Baltic region by the international financial magazine Euromoney. Nordea is among the ten largest universal banks in Europe in terms of total market capitalisation.

Thorben Sander (40) will from 1 May 2014 succeed Mortensen to safeguard and continue the business development of the 23 years under Mortensen’s management, developing best-in-class clients’ services and offerings. Thorben Sander has since 2010 been head of Investment Advice & Brokerage in Nordea.


About Gregers Møller

Editor-in-Chief • ScandAsia Publishing Co., Ltd. • Bangkok, Thailand

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