The Board of Directors of BRAbank ASA has appointed Hans Ljøen as new Chief Executive Officer (CEO), replacing the current CEO Bent Gjendem effective from 1 December 2019. Furthermore, the nomination committee of BRAbank proposed that Viggo Leisner is appointed Chair of the Board of Directors, replacing current chair Geir Stormorken, and that Per G Braathen is appointed board member. The new CEO, Hans Ljøen comes from the position as Chief Financial Officer (CFO) in BRAbank.

Previously, Ljøen held the position as the bank's Chief Risk Officer for more than four years. He has previous financial industry experience at Nordea Bank and earlier in his career he worked at PWC within audit and consulting. Ljøen earned a Certified European Financial Analyst degree and a Master in Finance from the Norwegian School of Economics (NHH).

Torbjørn Botnevik will replace Hans Ljøen as CFO. Botnevik was acting CFO in BRAbank from February 2018 to May 2019 and has since then led the integration of Monobank and BRAbank after the merger announcement in February 2019. Previously, Botnevik has been Head of Reporting, Financial analysis and forecasts in Nordea Life & Pensions Norway.

As founder, Bent Gjendem has led BRAbank through a period with substantial achievements, including launch of operations in Norway, Finland and Sweden, listing on Merkur Market and the merger between Monobank and BRAbank. The Board of Directors wishes to express its gratitude to Bent Gjendem for his leadership, hard work and dedication over the last years. Gjendem will now take on a role as a strategic adviser in the bank, in particular focusing on commercialising the BRAbank technology platform, strategic partnerships and strategic development.

The proposed new Chair, Viggo Leisner has 15 years of experience as an investment manager at Arne Blystad AS with a special focus on consumer financing in recent years and has previously been on the board of several public and private companies. The proposed new board member, Per G. Braathen, represents Braganza AB, BRAbank's majority shareholder, and will replace Jan Greve-Isdahl who will continue as deputy board member. Geir Stormorken is proposed to replace Per G. Braathen as Chairman of the nomination committee.