Dagfinn Lunde joins the board at Maritime and Merchant Bank

The bank, which was recently granted approval by Norwegian regulators, intends to focus on mortgage-based lending for the offshore and maritime industries.

"I am extremely pleased to welcome Lunde to our board," commented M&M's managing director, Halvor Sveen. "M&M will benefit greatly from his significant experience in the shipping and financial services industry, as we explore new opportunities and develop our banking portfolio to advance M&M's growth in the months ahead."

Prior to joining M&M, Lunde was a member of the board of managing directors of DVB Bank SE and the head of the shipping and offshore division at DVB for 11 years. He also spent five years as managing director of Intertanko and held various roles across the world with DNC, DNB and the Klaveness group.

Since retiring from DVB Lunde also become non-executive chairman of Executive Ship Management in Singapore

"Lunde is an expert in global finance and shipping, facing enormous challenges in the wake of the financial crisis and due to increased lack of funding willingness by traditional lenders," said Sveen.

Lunde brings his 30 years of financial and shipping experience to the board of seven alongside Endre Ording Sund, Henning Oldendorff, Arne Blystad, Klaus Kjærulff, Alex Nergaard and Pål Utvik.