Shipping bank Nordea's head of group business risk management is leaving the lender.

Julie Galbo, also a member of the executive management team, will depart at the end of this month.

Her role in the executive team ends immediately, however.

Galbo joined in 2014 in asset management, before leading the merging of the four Nordea banks in Denmark, Sweden, Norway and Finland.

She had an instrumental role in the work to re-domicile Nordea from Sweden to Finland to be in the European Banking Union.

"The past five years in Nordea have been very rewarding times professionally, creating one Nordic bank, helping Nordea strengthen its risk and control framework and recently making the transition into the Banking Union," she said.

"I feel that Nordea - and I personally - have accomplished a lot and the time is right for a change and for new opportunities."

CEO Casper von Koskull added: "I want to acknowledge Julie Galbo's big contribution to Nordea, helping steer the bank through one of its most important transformations into one bank in the Banking Union while also working tirelessly to establish a strong risk and control framework."

Erik Ekman will replace her on an interim basis, while continuing as head of commercial and business banking.

The search for a permanent replacement has begun.

Nordea revealed slightly higher loan losses in the first quarter.

But the bank expects provisions to be remain low in the coming year.

The loan loss figure to 31 March was EUR 42m ($47m), up from EUR 40m a year ago.