Danske Bank CEO quits over $234bn money-laundering scandal


Danske Bank’s chief executive Thomas Borgen resigned today following a money-laundering investigation, totalling €200bn (£177bn) through its Estonian branch, many of which the bank said were suspicious.

Borgen, who was in charge of Danske Bank’s international operations, including Estonia, between 2009 and 2012, said it was clear Danske had failed to live up to its responsibilities, which he regretted.

“Even though the investigation conducted by the external law firm concludes that I have lived up to my legal obligations, I believe that it is best for all parties that I resign,” he said.