German shipping lender Nord/LB has picked Olof Seidel as its new CFO and chief operating officer (COO).

He will also join the management board.

Seidel will assume his new role on 1 May, taking over from Ulrike Brouzi, who is moving to the managing board of DZ Bank.

Between 2010 and 2016, Seidel was CFO and COO of DNB Bank Polska in Warsaw, Poland.