Norway’s Sparebank 1 SR-Bank is looking for a new chief executive after Benedicte Schilbred Fasmer resigned.

Fasmer, who joined the shipping lender as CEO in January 2021, is leaving to take over state-owned Norwegian telecommunications company Telenor on 1 December, replacing Sigve Brekke after nine years in the top job.

The bank’s board has begun the process of finding her successor, but Fasmer will remain in position “for the time being”.