Team size: 12

Can you briefly explain how the legal team is structured, highlighting key individuals and their role within the department?

The legal department at Danske Bank Norge advises all the business units of the Norwegian branch, covering a broad range of legal topics. We have a flat structure in the department and given the contained size of the team and the variety of legal matters and issues we handle each day; every member of the group is a key individual.

What are the most significant cases or transactions that your legal team has recently been involved in?

We provide advice on a variety of legal matters. Our current focus is on implementing the new Financial Contracts Act, which will most likely come into force next year. Additionally, we assist on many loan transactions with the bank’s largest corporate customers.

In a changing financial landscape, how does the company remain competitive against new phenomena such as fintech and blockchain, and how does the legal team assist with this?

The bank is constantly developing new products and solutions to meet the customers’ requirements. This also includes the digitalisation of existing products and procedures. The legal team must ensure that all the new processes and solutions comply with regulatory requirements.

How does the team contribute constructively to the growth and expansion of the company?

The legal team is working closely with the business to evaluate and develop new and customer friendly solutions and products. The newly launched fully digital investment advisor solution —Fondsvelgeren — is an example.

Thomas Stølen
Head of legal Norway
Danske Bank