Danske Hires New CFO In Wake Of Money Laundering Scandal

Law360, London (September 5, 2019, 6:39 PM BST) -- Danske Bank announced a string of management changes Thursday as part of efforts by its chief executive to restore confidence after its involvement in one of the world's biggest money laundering scandals through its Estonian branch.

Danske Bank A/S Chief Executive Chris Vogelzang, who joined the bank in June, revealed a reorganization of the bank's top management. Stephan Engels will become chief financial officer in April, replacing Christian Baltzer, who will leave the bank after joining last year, Danske said in a statement.

Engels joins from German lender Commerzbank AG, where he has been CFO since 2012.

Vogelzang said Engels' appointment...

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