The head of Nordea's Danish private banking and wealth management division Hans Henrik Klestrup has left his position after serving for almost four decades at the financial group, Danish Business Daily Børsen reported on Thursday.

In an email, Gustaf Unger, Co-Head of Nordea Wealth Management, tells AMWatch's sister site FinansWatch that Nordea and not Klestrup is behind the decision to make the change.

"Private Banking in Denmark has delivered good results and we assess that there is even greater potential. Therefore, ambitious goals have been set to realize this potential based on a strong collaboration across Nordea," Unger writes and continues:

"To achieve the new goals and ensure a necessary change in the business unit's management approach and culture, it has been decided to appoint a new head of Private Banking in Denmark. Therefore Hans Henrik Klestrup will stop when a handover is in place."

Unger informs that Deputy Head of Private Banking, Sanne Fredenslund, will take over as acting head of the Danish private banking and wealth management division. 

Klestrup has worked in the financial sector for 38 years, most of which have pertained to private wealth management.

(Updated Thursday, October 29, 2020, at 15:40 with a new headline and comments from Unger)