Banks, EU – Baltic States, Financial Services

International Internet Magazine. Baltic States news & analytics Tuesday, 15.10.2019, 22:11

Danske dismisses head of Danish banking

BC, Vilnius, 25.06.2019.Print version
Danske Bank's board of directors on Monday dismissed Jesper Nielsen from his position as member of Danske Bank's executive board and head of Danish banking after thousands of Danish customers were overcharged for an investment product, reported LETA/BNS.

"Jesper Nielsen has made significant contributions to the bank throughout many years, most recently as Interim CEO, for which we thank him. But, in the specific matter, he was at the time one of the responsible executive board members who did not to a sufficient degree ensure that the Flexinvest Fri product was suitable for the bank's customers. Therefore, we find that Jesper cannot continue in his position," Karsten Dybvad, chairman of Danske Bank's board of directors said in a press release.

This concerns altogether 87,000 customers in Denmark who are to receive altogether over 400 mln Danish kroner as compensation.

Nielsen will now be released from his duties. Until a replacement has been found, Glenn Soderholm, member of the executive board and in charge of the banking activities in Norway, Sweden and Finland, will also take responsibility for the banking activities in Denmark.

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