The previous CEO Thomas Borgen has now been relieved of all of his duties.
Danske Bank A/S announced on Monday that Jesper Nielsen has been appointed as its interim chief executive officer. His new role follows the resignation of Thomas Borgen, the previous CEO on September 19, 2018, for his role in one of the worst money-laundering scandals in Europe.
Borgen resigned last month on the same day that Danske bank published an internal report on its suspicious dealings in Estonia. Instead of staying around until a new CEO was appointed, shareholders insisted that Borgen leave immediately.
This Monday, Borgen emailed a comment to Bloomberg saying, the board agreed it was “best for all parties that the person who Leads management is also around to complete the job, and seeing as I’ve resigned, that person is not me.”
In September, following a number of rumors, Danske admitted that a large part of around 200 billion euros ($235 billion) that passed through its Estonian operations was most likely laundered. This has resulted in criminal investigations into the bank and also sparked a European investigation into local regulators in Denmark.
Nielsen’s Appointment Highlights the Urgency to Get Rid of Borgen
Nielsen has been working with Danske since 1996. Most recently, he was the Head of Banking in Denmark. His appointment as interim CEO of Danske implies that it was of high importance that Borgen was removed from the firm’s Board.
Speaking to Bloomberg, Per Hansen, an investment economist at Nordnet in Copenhagen said: “There are several reasons why it makes sense to appoint an interim CEO instead of already naming a permanent replacement. Danske Bank probably decided that it was important to start the post-Borgen era as quickly as possible. But for investors, it will be more relevant when a long-term solution is found.”
Nielsen also added that his interim post was “mostly a formality” and that he’s “looking forward to a permanent solution being found.”
Danske Bank A/S announced on Monday that Jesper Nielsen has been appointed as its interim chief executive officer. His new role follows the resignation of Thomas Borgen, the previous CEO on September 19, 2018, for his role in one of the worst money-laundering scandals in Europe.
Borgen resigned last month on the same day that Danske bank published an internal report on its suspicious dealings in Estonia. Instead of staying around until a new CEO was appointed, shareholders insisted that Borgen leave immediately.
This Monday, Borgen emailed a comment to Bloomberg saying, the board agreed it was “best for all parties that the person who Leads management is also around to complete the job, and seeing as I’ve resigned, that person is not me.”
In September, following a number of rumors, Danske admitted that a large part of around 200 billion euros ($235 billion) that passed through its Estonian operations was most likely laundered. This has resulted in criminal investigations into the bank and also sparked a European investigation into local regulators in Denmark.
Nielsen’s Appointment Highlights the Urgency to Get Rid of Borgen
Nielsen has been working with Danske since 1996. Most recently, he was the Head of Banking in Denmark. His appointment as interim CEO of Danske implies that it was of high importance that Borgen was removed from the firm’s Board.
Speaking to Bloomberg, Per Hansen, an investment economist at Nordnet in Copenhagen said: “There are several reasons why it makes sense to appoint an interim CEO instead of already naming a permanent replacement. Danske Bank probably decided that it was important to start the post-Borgen era as quickly as possible. But for investors, it will be more relevant when a long-term solution is found.”
Nielsen also added that his interim post was “mostly a formality” and that he’s “looking forward to a permanent solution being found.”
Profit & Loss’ Founder Julie Ros Joins New York-Based Firm as CMO
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
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#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
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#fmas #fmas24 #fmevents #networking #finance #africa
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
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#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
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#fmas #fmas24 #fmevents #networking #finance #africa
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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