Danske Bank appoints interim boss after €200bn laundering scam

Written by Oliver Wade
02/10/2018

Danske Bank has appointed an interim chief executive after its former boss Thomas Borgen resigned following the firm’s €200bn (£177.8bn) money laundering scandal.

Borgen announced his resignation last month, after an internal enquiry revealed that €200bn of payments, many of which had been labelled suspicious, had been processed through its Estonian branch over an eight-year period.

Yesterday, the firm’s head of Danish banking Jesper Nielsen was appointed interim chief executive. However, Danske announced that he is not in the mix to take the job on a permanent basis.

Furthermore, Danish analysts and media have speculated the head of its wealth management unit Jacob Aarup-Andersen is a likely candidate to be appointed as the new head. Despite this, some have argued that the 40-year-old is too inexperienced to lead Denmark’s largest bank.

Additional names in the mix are the head of Danish mortgage lender Nykredit Michael Rasmussen and Morgan Stanley’s head of European fixed income and commodities Jakob Horder.

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