Danish regulator rejects Danske Bank's choice for new CEO
Danske's board had asked the watchdog for its approval of Jacob Aarup-Andersen, but it said ‘longer experience, including within certain of Danske Bank's business areas‘ was needed
Copenhagen — Danske Bank, reeling from a money laundering scandal, suffered another setback on Wednesday when the Danish financial regulator rejected its candidate for CEO on the grounds that he lacked sufficient experience. Denmark's largest bank is looking for a new leader after Thomas Borgen was ousted in September as the group struggles to deal with the scandal. Danske's board had asked the financial watchdog for its approval of Jacob Aarup-Andersen. He joined Danske in 2016 from Danica Pension and has held the post of head of wealth management since May 2018. While the regulator found he was "well-qualified in many areas", it added that "longer experience, including within certain of Danske Bank's business areas, is needed", the bank said. "The board of directors unanimously backed Jacob Aarup-Andersen as new CEO, knowing full well that longer experience in certain areas would have been desirable," said chair Ole Andersen in a statement, adding that the board was now talking to...
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