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Danske Bank ditches CEO candidate after regulator questions experience

Danske Bank ditches CEO candidate after regulator questions experience
FILE PHOTO: General view of the Danske Bank building in Copenhagen, Denmark, September 27, 2018. REUTERS/Jacob Gronholt-Pedersen/File Photo *** Local Caption *** Jacob Gronholt-Pedersen   -   Copyright  Jacob Gronholt-Pedersen(Reuters)
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COPENHAGEN (Reuters) – Danske Bank <DANSKE.CO> said on Wednesday it had dropped plans to appoint Jacob Aarup-Andersen as chief executive after the Danish Financial Supervisory Authority (FSA) said a more experienced candidate was needed.

Denmark’s largest bank is looking for a new leader after Thomas Borgen was ousted last month as the group struggles to deal with a $235 billion money laundering scandal.

“The FSA’s preliminary assessment is that it considers the candidate well qualified in many areas, but also finds that longer experience, including within certain of Danske Bank’s business areas, is needed,” Danske Bank said in a statement.

The board had unanimously backed Aarup-Andersen as new CEO said Chairman Ole Andersen, adding that the board was now in dialogue with other potential candidates.

Jesper Nielsen, who was the head of Danske Bank’s domestic banking business, will stay on as interim CEO, the bank said.

Aarup-Andersen, 40, who will continue as head of Danske’s Wealth Management unit.

(Reporting by Stine Jacobsen; editing by Jason Neely/Keith Weir)

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