DnB Nor veteran Vidar Andersen has been appointed head of the bank’s Shanghai branch.

Andersen moves to the role from his position as vice-president of energy, trade and industry in Shanghai and was one of the first DnB bankers to move out to China when the bank’s business began there in 2005.

“I am very pleased to be given such an opportunity and I approach the task with both humility and pride,” Andersen says.

“I look forward to continue to build and develop our strong Shanghai team further.”

In particular, the bank is looking to expand its shipping business in the region and has set 2020 as its target year “to become the leading international financial centre as well as an international shipping hub”, according to Andersen.

Andersen succeeds Espen Lund, who has moved back to the bank’s Oslo headquarters to take a position in the management team of the international corporates and institutions division.