Nordea Finance CEO: Peter Hupfeld

When Nordea Finance CEO Peter Hupfeld graduated as an environmental engineer in 1998 he, like a lot of his fellow college students, had huge desires of creating a distinction. “Then I stepped out into actuality, and nobody actually cared about environmental points,” he says.

Hupfeld has a background in administration consultancy and held government positions in a Nordic insurance coverage firm earlier than becoming a member of the most important finance firm within the area, Nordea Finance.

Since taking over the function in 2015, Hupfeld has pushed an bold agenda to rework the corporate into one that’s customer-centric, with a Nordic mindset utilized to its 4 native markets. The outcome has been a gradual enhance in buyer satisfaction scores over the previous 4 years. “I’m actually happy with how far we’ve come,” he says, “however we nonetheless have work to do.”

“I’m actually happy with how far we’ve come,” he says, “however we nonetheless have work to do.”

The finance trade as a complete is noticing a major shift in buyer preferences from possession in direction of extra sustainable leasing choices, and this pattern is anticipated to extend.

“We had been a part of the primary wave of what we name ‘inexperienced financing’ throughout a number of of our enterprise traces two years in the past,” says Hupfeld. “This pattern began with bigger objects like vehicles and heavy equipment, and is now flowing into smaller objects like electrical bicycles and knowledge and communication expertise (ICT) round economies — making greener options accessible to a broader vary of individuals and industries.”

Along with his CEO function in Nordea Finance, Hupfeld participates on the board of Leaseurope, a federation bringing collectively leasing firm associations throughout Europe. “Nordea Finance and the finance trade extra broadly have a major function to play in offering related provides for purchasers and companions searching for extra sustainable options, and in educating the industries we serve about how they will finance in a greener approach.”

As an increasing number of firms decide to CSR targets, automotive fleet financing is an space the place firms look to scale back their CO2 emissions. “Lots of bigger and mid-sized corporates need to place CO2 restrictions on firm vehicles,” says Hupfeld. “We do the identical in Nordea Group. That is the place we will supply greener leasing options resembling hybrids or purely electrical autos.

“Whereas we will supply greener options throughout the Nordics, native infrastructure and governmental subsidisation additionally has a huge impact on buyer desire. In Norway, for instance, authorities subsidies supporting greener choices and infrastructure for electrical autos (Evs) has elevated exponentially over latest years. Right now, greater than half of the brand new autos offered in Norway are EVs.
“The opposite Nordic international locations have some method to go as compared, so we have to work carefully with our companions, learn the tendencies, attempt to affect the authorities and go dwell with merchandise which are domestically related.”

In 2020, Hupfeld’s ambitions to make a distinction are just a little extra pragmatic than they had been in 1998. “There’s nonetheless a spot between the excitement in society the place individuals or corporates have ambitions to assist greener choices, and the second they’re keen to pay further for it.

“Greener financing is a technique we can assist our prospects, companions and society extra broadly, to shut that hole.”

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