Danish Financial Supervisory Authority Rejected the Danish Danske Bank Nominee as the New CEO

Danske Bank’s nominee as new director did not qualify for the Danish Financial Supervisory Authority – not enough experience

Danske Bank is looking for a new CEO since Thomas Borgen resigned in September because of money laundering.

Danish Financial Supervisory Authority has rejected the Danish Danske Bank nominee as the new CEO of the Group.

Danske Bank‘s Board of Directors had requested approval from the Financial Supervisory Authority for the appointment of Jacob Aarup-Andersen as the new Executive Director.

However, the Authority considered that he did not have sufficient experience of all the Group’s activities.

Aarup-Andersen, 40, started his work at Danske Bank in 2016. Since May, he has served as asset manager.

The Financial Supervisor stated that Aarup-Andersen was qualified in many different areas, but stressed that work would require a longer working experience.

The previous CEO of Danske Bank Thomas Borgen resigned in September because of money laundering. Danske Bank’s internal investigation has revealed extensive negligence and shortcomings in the control of money laundering.