The board of directors of Nordea Bank has appointed Casper von Koskull as the new president and group chief executive officer, and Torsten Hagen Jørgensen as the new group chief operating officer and deputy chief executive officer.

The new leadership team will succeed Christian Clausen who decided to step down after more than eight years as chief executive officer of Nordea. The change will take effect 1 November 2015. Clausen will continue in an advisory role until the end of 2016, when he will retire.

Von Koskull joined Nordea in 2010 as head of wholesale banking and a member of the group executive management. Prior to joining Nordea, he had a career in international banking in Frankfurt, New York and London, most recently as managing director and partner at Goldman Sachs.

Jørgensen has held the position of head of group corporate centre and group chief financial officer in Nordea since January 2013. He joined the bank in 2005 and has been a member of group executive management since 2011.

Björn Wahlroos, chairman of the board of directors at Nordea said: "I would like to thank Christian Clausen for his invaluable contribution to Nordea’s development into a large, successful international bank. His leadership, customer focus and international outlook are unmatched in banking. I have enjoyed our cooperation the past 4 years, and I am very happy that Christian will accept to be nominated to the Board of Sampo, Nordea’s main shareholder. I fully respect his decision to step down as CEO now, and I wish him the best in the next phase of his active career."

Last month, Nordea has appointed Peter Hupfeld as new head of Nordea Finance.