Danske Bank Fires Top Exec For Overcharging Customers

Law360, London (June 24, 2019, 1:44 PM BST) -- Danske Bank on Monday said it has sacked its head of banking in Denmark after finding that he allowed customers to be overcharged for an investment product, adding that it will pay 400 million Danish krone ($61 million) to compensate 87,000 investors.

Jesper Nielsen, who was acting as interim chief executive until the start of June, was dismissed over his decision to raise the price of the lender’s domestic Flexinvest Fri product. Danske Bank A/S said that Danish customers who invested in the product between July 2017 and November 2018 paid fees that were too high.

Nielsen was one of the...

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