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Danske Bank hires compliance officer from HSBC

Published 07/09/2019, 10:08 AM
Updated 07/09/2019, 10:11 AM
Danske Bank hires compliance officer from HSBC

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

Kingsbury, who will join Danske Bank on July 15, will report to Vollot who joined from Deutsche Bank (DE:DBKGn) 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.

Latest comments

Didn't HSBC pay a $1.5B fine years ago for money laundering? -- Nice parody!. ----Aug 14, 2018: HSBC expects to pay $1.5 billion in tax evasion, money laundering fines. HSBC has set aside $632 million to settle a number of investigations into allegations of tax evasion and other crimes such as money laundering but expects the amount could go up to $1.5bn, according to its interim results.---
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