COPENHAGEN - Danske Bank hired ex-ABN AMRO banker Chris Vogelzang as its new chief executive on Friday as it wrestles to limit the fallout of its involvement in one of the biggest money laundering scandals.
Among the challenges facing Vogelzang, who was on the management board of Dutch bank ABN AMRO until 2017, are rebuilding investor and customer trust and keeping Danske Bank focused during the myriad inquiries into its conduct. Shares in Danske Bank, which have more than halved since March last year, were trading 4.2% higher at 0849 GMT.
Vogelzang will be reunited in Denmark with his former ABN boss Gerrit Zalm, who joined Danske Bank’s board in March and sits on its nomination committee. But in 2017 the top job went to its then-CFO Kees van Dijkhuizen, who had also worked as a civil servant.
Rebuild? How are they allowed to continue as a going concern?
Flavors of Soviet Money Laundered there
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