Norwegian shipping lender SpareBank 1 SR-Bank has appointed chief financial officer Inge Reinertsen as its new chief executive.

He will take the top job on 16 September and then also become the CEO of the new SpareBank 1 Sor-Norge operation after the merger with SpareBank 1 Sorost-Norge on 1 October.

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This deal will make the bank the country’s second-biggest, behind DNB.