There is a growing body of literature discussing the changing nature of the financial sector. The changes described have important implications for the role of the branch and for branch managers. However, the existing literature on middle managers is mostly concerned with general trends. In this paper we provide a more industry-dependent analysis of the changing role of middle management in the context of developments within the financial service sector in Norway. The paper utilizes Mintzberg's model of managerial roles as a framework within which to discuss developments. However, as many of the developments in financial services discussed here are similar to those happening elsewhere, we believe that the findings have a wider validity.