April 6, 2018 / 7:27 AM / 5 months ago

Danske Bank picks new CFO, changes organisation

COPENHAGEN, April 6 (Reuters) - Danske Bank has hired Christian Baltzer from insurer Tryg as its new chief financial officer and said it would reorganise its personal and business banking divisions.

The Danish bank’s personal banking and business banking, which currently operate as separate business units, will be merged into two country organisations; Banking Denmark and Banking Nordic, covering Norway, Sweden and Finland.

“We now change our organisation and move even closer to our customers in the retail banking units,” chief executive officer Thomas Borgen said in a statement on Thursday.

The changes comes a day after a senior Danske executive quit after the bank concluded there should have been an earlier and deeper inquiry into alleged money laundering at its Estonian branch.

A Danske Bank spokesman said the changes announced on Thursday were not related to the departure of Lars Morch, who has been responsible for the Baltic operations of Denmark’s biggest bank since 2012.

Danske Bank also said head of wealth management Tonny Thierry Andersen, has decided to leave after being with the bank since 1999. Outgoing CFO Jacob Aarup-Andersen will take over Andersen’s position.

Reporting by Stine Jacobsen. Editing by Jane Merriman

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