BankNordik P/F announced that it has appointed Mr. Árni Ellefsen as permanent CEO. Mr. Ellefsen began his career with BankNordik in 2011 when he was appointed CFO and member of the group management. Among his former positions, he has served with KPMG in Copenhagen and as a partner of the Faroese accounting firm Spekt. Turið F. Arge is appointed to BankNordik's group management. Since the summer of 2014, she has served as head of corporate banking in the Faroe Islands. In her past positions with BankNordik include as head of the sales and marketing, customer service and branch support departments. As part of this move, the bank has appointed its head of personal banking to its group management. The new organization will consist of the following business and staff areas: Finance, Risk Management and other staff functions headed up by Árni Ellefsen, CEO; Corporate Banking, pension and insurance headed up by John Rajani, Deputy CEO; Personal Banking, Sales and Marketing headed up by Turið F. Arge, Head of Personal Banking; Markets and Private Banking headed up by Henrik Jensen, Chief Investment Officer; Credit Services and Branch Support headed up by Rune Nørregaard, Chief Credit Officer. The three senior vice presidents will join the executive board to make up the new group management. The Executive Board now consists of Árni Ellefsen, CEO, and John Rajani, Deputy CEO.

The company announced its intention to refocus on the personal banking market in Denmark, Greenland and the Faroe Islands and the corporate banking markets in the North Atlantic region, the company will also be reorganizing its business areas. The new appointment will support the implementation of the announced strategy and strengthen the ties across the respective business areas. By establishing a single personal banking area across national borders and having the head of personal banking serve on the group management, the company will have the necessary focus to continue developing the personal banking segments in all three countries. It will also have a platform for capitalizing on potential synergies, including by way of standardizing processes and systems.