Danske Bank chief Borgen quits
Danske Bank's CEO Thomas Borgen has resigned after an investigation revealed payments totalling $234 billion through its small Estonian branch, many of which the bank has said were suspicious. The Danish bank detailed compliance and control failings amid growing calls for a European Union crackdown on financial crime after a series of money laundering scandals which have attracted the attention of US authorities.
Mr Borgen, 54, was in charge of Danske Bank's international operations, including Estonia, between 2009 and 2012. The bank has said that it has taken action against current and former staff and overhauled systems found to have failed.