Banking News

Danske Bank overhauls exec team

Danske Bank overhauls exec team

(5 September 2019 – Europe) Danske Bank’s new chief executive has overhauled the embattled lender’s top management following his own appointment in June.

Chris Vogelzang, in charge at the Bank since June, is seeking to restore trust in Denmark’s biggest bank after a huge 200 billion money-laundering scandal led to criminal investigations and the ousting of both its chief executive and chairman.

Stephan Engels, currently chief financial officer at Commerzbank, will take up the same role at Danske while Berit Behring, head of the Danish bank’s operations in Sweden will become head of wealth management.

Jacob Aarup-Andersen, who was set to be Danske’s new chief executive by the board but was rejected by Danish regulators, will move from wealth management to head its banking activities in Denmark. He will be acting chief financial officer until Mr Engels arrives in April next year.

Danske’s chief operating officer has also been pushed aside with Mr Vogelzang taking over the role until a successor is appointed.

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