Danske Bank has fired its former interim executive Jesper Nielsen because of excessive fees would have been charged to certain customers under his supervision. With the intervention, the financial group plagued by a large money laundering scandal tries to clean up the ship.
This now concerns the Flexinvest Fri financial product. Some 87,000 Danish customers paid a total of more than 50 million euros too much. According to chairman Karsten Dybvad, Nielsen cannot therefore remain employed as head of banking in Denmark.
The issue is separate from the money laundering scandal. Last year it was announced that Danske Bank had processed billions of euros in dubious cash flows for years. It would have been, among other things, criminal money from Russia. Because of this scandal, CEO Thomas Borgen resigned in September last year, after which Nielsen temporarily took over the leadership of the group.
Danske Bank has had a Dutch top man since the beginning of this month. It is up to former ABN AMRO driver Chris Vogelzang to get the Danes back on track. That also means a renewed collaboration with Gerrit Zalm, who has been a supervisory director at Danske Bank since March this year.
Peretz M. is an accomplished economist and financial journalist with a deep understanding of the global economy and financial markets. He is a regular contributor to EconomicInform, where he provides expert analysis and commentary on current economic trends and events. With a strong educational background in economics, Peretz has a talent for breaking down complex economic concepts for a general audience and is able to provide insightful perspectives on a wide range of economic issues.
