Ian Smith Joins Nordea as the Group's Chief Financial Officer

Karthik Subramanian

Karthik Subramanian has been a professional trader and fund manager over the last 18 years. He is basically a software developer who made the transition to financial domain around 18 years back as the attractiveness of the financial markets proved too much for him. He lives in Chennai in India along with his wife and son. He began his career as a software developer in 1999 and then gradually moved into the financial industry as he began trading stocks in his pastime. He then moved into the financial markets full time and then shifted his focus to the FX markets due to the liquid nature of these markets. Since then, he has been trading FX diligently and his favourite pair are the EURUSD and EURJPY. Over the last couple of years, he has found blockchain to be of high interest and considering his background in software and finance, he has since assembled a team of highly talented developers who have since worked on a variety of projects like crypto exchanges and blockchain architecturing. Now, he balances his time between trading and commenting on both the FX and crypto markets. He has worked with many publications including FX Street and Finance Magnates, which has helped him gain experience and also recognition across the industry. He loves to write and this passion has helped him to reach out across the FX and crypto industry. Right now, he works on his pet projects in the FX and crypto industry and spends his time writing and managing his blockchain team and helping it to reach higher.

Ian Smith

Ian Smith Joins Nordea as Group CFO

February 4, 2020

NordeaNordea, a Finland based financial service provider with well established presence in Northern Europe recently revealed the appointment of new c-level executive. As per official press release from the firm, it has on-boarded Mr. Ian Smith to serve as the new Chief Financial Officer and Head of Finance for the group.

His new role makes him a member of the financial service provider’s top most executive committee and is expected to take on his new role with the firm effective from 6th May 2020 subject to regulatory approval. The incoming executive is a veteran with more than three decades of experience in financial services industry and has held senior level roles in several leading multinational banking and financial service providers. Ian is currently serving as the Group Chief Financial Officer for Virgin Money UK PLC and has held the role for nearly five years now. 

Aside from his role at Virgin Money UK, he is also serving as Chief Financial Officer at CYBG PLC which he had been serving in for five and a half years now as per information in his LinkedIn account. Virgin Money UK PLC was formed when it acquired and merged with CYBG PLC an LSE/ASX listed leading player in UK financial services market. While the firm continues to operate under Clydesdale bank’s banking license at the moment, Virgin Money UK PLC is expected to phase out CYBG PLC’s firms in favor of Virgin Money brand by late 2021.

Aside from his role with Virgin Money, Ian has served as a Partner at Deloitte LLP – one of the big four accounting organizations for four and a half years prior to which he also served as Deputy Group Finance Director for Lloyds Banking Group for two years. Earlier in his career, he had served as Manager at Coopers & Lybrand for seven years. 

Commenting on Ian’s addition to the firm’s senior management and leadership team, Frank Vang-Jensen the group CEO and President said, “I am pleased to welcome Ian to Nordea. He brings leadership, expertise and a strong track record. With his background and experience in the financial services sector focused on finance, treasury, business planning, cost management and M&A he is the ideal CFO for Nordea. The appointment supports Nordea’s new phase and our key priorities – optimize operational efficiency, drive income growth initiatives and create great customer experiences and I look forward to working with him across the business and in the Group Leadership Team”.

Commenting on his new role, Mr. Smith said, “Nordea is the leading bank in the Nordic region. I am excited to join Nordea’s new phase and look forward to working with the Group Leadership Team to drive financial performance and help unlock the potential of the bank”. 

It should be noted that Mr. Christopher Rees who is currently serving in the role of CFO will retain his post until Ian takes on his new role post which he will cut ties with the firm at the earlier in order to relocate from Finland to UK while ensuring seemless transition of responsibilities. However, the statement failed to mention the exact date of Mr. Rees’s departure from the firm. 

Please feel free to share your thoughts with us in the comments below. 

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