The transformation of the bank continues – new appointments in GEM and adjustment of the Retail organisation

Karen Tobiasen has been appointed Chief Human Resources Officer and a member of
Group Executive Management (GEM) as of 1 July 2016. To facilitate an even
sharper customer focus it has also been decided to adjust the organisation and
divide Retail Banking into two business areas, Personal Banking and Commercial &
Business Banking.

Topi Manner, currently Head of Banking in Finland and Baltics, will be heading
the Personal Banking business area and become a member of Group Executive
Management as of 1 July 2016. Mads G. Jakobsen, currently Deputy Head of Retail
Banking, will be Head of the Commercial & Business Banking business area.
Lennart Jacobsen, who has successfully led Retail Banking over the past three
years, has decided that it is a good time to move on when the next phase now
starts. He will support during the transition period until 1 August.

- We are currently transforming the bank to become the bank our customers want
us to be. It means a significantly sharpened customer focus and adapting both
our processes and systems to the rapid changes in our customers’ different
needs, says Group CEO Casper von Koskull.

- For a transformation agenda to be successful, HR must have a big role as it is
as much about our own organisation’s transformation as it is about technology
and processes. We have set an ambitious target to become One Nordea – a digital,
agile, efficient and robust bank that fully capitalises on its size and the
immense expertise of our 30,000 employees. I’m convinced that Karen with her
extensive international experience of HR and large scale transformations can
hugely contribute to our ambition of developing Nordea to the best bank in our
markets, Casper von Koskull continues.

- Lennart Jacobsen has had a key role in creating the foundation for the future
relationship bank and our digital offerings which we will benefit from in the
years ahead. He has been a much appreciated leader and I’m sorry to lose a good
colleague of mine, says Casper von Koskull.

The changes in Group Executive Management and the organisational changes will be
effective from 1 July and be fully finalised including financial reporting
before year-end at the latest.

Karen Tobiasen
Karen Tobiasen (51) will join Nordea on 1 July 2016. Karen comes most recently
from a position as Chief HR Officer at Philips Lighting where she held the
overall responsibility for HR & Transformation globally for Philips Lighting, a
division within the Royal Philips Group. Prior to Philips Lighting Karen held a
number of senior international roles at SAP EMEA, most recently as Senior Vice
President, HR & Transformation.

Mads G. Jakobsen
Mads G. Jakobsen (50) has held several leading positions at Nordea (formerly
Unibank) since 1996 and became Deputy Head of Retail Banking and Country Senior
Executive in Denmark and a member of Nordea’s Group Executive Management in
2014.

Topi Manner
Topi Manner (41) has been with Nordea (formerly Merita) since 1998 and has had
several leading positions within Retail Banking since then. In 2012 Topi became
Head of Banking Finland and Baltics and has since 2015 also been CEO of Nordea
Bank Finland.

For further information:
Emma Rheborg, Head of External Group Communication, +46 733 80 22 63

The information provided in this press release is such that Nordea is required
to disclose pursuant to the Swedish Financial Instruments Trading Act (1991:980)
and/or the Swedish Securities Markets Act (2007:528).