Nordea announced the appointment, effective as of April 1, of Mads Jakobsen as the deputy head of retail banking on Friday.

Jakobson, who is currently Nordea's head of fixed income, currencies and commodities in wholesale banking, has been with Nordea for 25 years. He will team with Lennart Jacobsen, the company's head of retail banking, to lead a business that has 18,000 employees and more than 10 million customers.

As part of his role, Jakobsen will be responsible for the bank's retail banking corporate business with 500,000 customers and $114.4 billion in lending.

"Mads has been a major contributor to the development of the strongest markets operation in the Nordics in a close teamwork with the wholesale and retail corporate units," Jacobsen said. "His experience, competencies and leadership will complement and strengthen retail banking in the work ahead of us."

Nordea has more than 1,400 branches and is headquartered in Stockholm. The bank has a presence in 19 countries around the world, operating through full service branches, subsidiaries and representative offices.