LONDON, UK: Sydbank, one of the largest banks in Denmark, has announced that Mark Luscombe will join the bank as Deputy Group Chief Executive on 1 April 2024 and succeed Karen Frøsig as CEO on 31 July 2024. Karen Frøsig, who has been the CEO of Sydbank for 13 years, wishes to retire.
Mark Luscombe comes from a position as Country Manager at SEB in Denmark, where he has been working since 2013. Prior to that, he held various senior roles at Citibank for 17 years. He has extensive experience in the banking sector, especially in corporate and investment banking.
Sydbank’s Chairman of the Board Lars Mikkelgaard-Jensen said that Mark Luscombe was the ideal candidate to continue the development and course for Sydbank charted by Karen Frøsig and the Group Executive Management. He also said that Mark Luscombe appreciated Sydbank’s roots, position and way of doing business and that he could strengthen Sydbank’s brand as the preferred bank of the corporate sector and perfect the bank’s offers to retail clients looking for professional advice.
Mark Luscombe was considered fit and proper by the Danish Financial Supervisory Authority as CEO. He will remain an employee of SEB until 31 March 2024 and will not provide further comments until then.
Deputy Group Chief Executive Bjarne Larsen and Deputy Group Chief Executive Jørn Adam Møller will continue in their positions in the Group Executive Management.