Swedish bank SEB Kort has completed its acquisition of AirPlus and has named Mads Krumhardt Enggren, the bank’s managing director, as its new CEO.
SEB’s €450 million acquisition of AirPlus from the Lufthansa Group, announced a little more than a year ago, has met all regulatory approvals and closing conditions, and AirPlus is a part of SEB Group as of Aug. 1, the company announced. With that process complete, Enggren is succeeding CEO Oliver Wagner, the former Eurowings chief commercial officer who joined AirPlus four and a half years ago, following the departure of longtime leader Patrick Diemer.
Enggren, a Danish citizen, has spent 20 of his 28 years in the finance and credit card industry at SEB, including serving as SEB Kort CEO since 2018. He led the bank’s corporate segment for seven years prior to that, leading development of B2B products in Denmark, Finland, Norway and Sweden.
AirPlus’ announcement noted Wagner will return to Lufthansa Group, though it did not specify in which role.
Alongside Enggren, SEB has named SEB head of legal Tove Markelin to AirPlus’ management board as part of the transition from Lufthansa Group ownership. They will share AirPlus’ management board with AirPlus CFO Andreas Hagenbring and Erik Mosch, who is being promoted from AirPlus’ chief representative to managing director.
With the appointments of Enggren and Markelin, “AirPlus is gaining two managers with proven experience in the corporate payment industry,” SEB deputy president and CEO Mats Torstendhahl said in a statement. “Equally, Andreas Hagenbring and Erik Mosch have played a vital role in positioning AirPlus as a leading global corporate payment expert. With this management team, AirPlus is ideally positioned to create the leading corporate payment provider in Europe with global reach and to drive the digital transformation in the payment industry.”
AirPlus noted all nominations are pending regulatory authority confirmation.