HELSINKI, Jan 13 (Reuters) - Nordea's chair of the board of directors Torbjorn Magnusson will step down at the end of September, with former RBS Group chief executive Stephen Hester taking his place from October, the bank said in a statement on Thursday.

Magnusson, who is also the chief executive of insurance group Sampo, will continue as a member of the board.

Former investment banker Hester, 61, was also appointed chairman of budget airline easyJet in August to help it navigate the post-pandemic recovery.

He has recently served as the chief executive of RSA Insurance and was widely praised for restructuring RBS in the aftermath of its state bailout during the 2008 financial crisis.

"Nordic financial services have been a part of my career in many different roles, especially since 2014," Hester said.

Sampo remains Nordea's largest owner with 6.2% of shares despite significantly reducing the holding in the past year in what the company called a strategic shift to focus on the insurance business. (Reporting by Essi Lehto; Editing by Kirsten Donovan)