Danske Bank has hired a new director for its wealth management unit as the bank steps up its focus on areas outside traditional lending to cope with years of negative interest rates.
Danske Bank has suspended six employees after Danish prosecutors started a probe into price manipulation on mortgage bond trades conducted in 2009.
Another one bites the dust.
Firms are unforgiving these days.
Danske Bank A/S said the financial regulator decided to reprimand Denmark’s biggest bank over its risk controls because of a surge in revenue at its trading unit.
Henrik Normann, Member of the Executive Committee of Danske Bank and Head of Danske Markets, will leave Danske Bank at the end of February 2012 to take up a new job as President and CEO of Nordic Investment Bank (NIB) on 1 April 2012.