Danske Bank hires compliance officer from HSBC

FILE PHOTO: Danske Bank flag flutters at the bank's Estonian branch in Tallinn
FILE PHOTO: Danske Bank flag flutters at the bank’s Estonian branch in Tallinn, Estonia August 3, 2018. REUTERS/Ints Kalnins/File Photo

July 9, 2019

COPENHAGEN (Reuters) – Danske Bank <DANSKE.CO>, entangled in a massive money laundering scandals, has appointed Simon Kingsbury as head of surveillance and investigation from HSBC <HSBA.L>, the bank’s head of compliance Philippe Vollot wrote on LinkedIn.

Kingsbury, who will join Danske Bank on July 15, will report to Vollot who joined from Deutsche Bank <DBKGn.DE> in December.

Danske Bank on Monday cut its 2019 profit outlook, partly due to higher costs related to compliance and anti-money laundering activities following its involvement in a major money laundering scandal at its Estonian branch.

(Reporting by Andreas Mortensen; editing by Jacob Gronholt-Pedersen and Alexander Smith)

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