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Danske Bank appoints interim CEO to replace Borgen

By Teis Jensen

COPENHAGEN (Reuters) – Danske Bank (CO:DANSKE) appointed an interim chief executive on Monday as it sought to reassure investors rattled by a $235 billion money laundering scandal and looking for a new leader.

Jesper Nielsen, the head of Danske Bank’s domestic banking business, will take on the running of the bank while a replacement is found for Thomas Borgen, who resigned last month but was not originally going to leave with immediate effect.

“The bank cannot move on with rebuilding the trust in the bank before he (Borgen) is gone,” said Jens Munch Holst, chief executive of MP Pension, which holds Danske Bank shares, said.

Borgen quit after an internal inquiry found that payments totaling 200 billion euros, many of which Danske Bank said were suspicious, had been moved through its Estonian branch between 2007 and 2015.

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