The board of Sweden’s oldest bank decided that Birgitte Bonnesen’s time was up
“NORDIC NOIR” crime fiction portrays the dark underbelly of societies which appear on the surface to be staid, comfortable and law-abiding. The region’s financial systems, too, have a surprisingly seedy side. The long-held notion that Scandinavian banks are among the world’s least susceptible to financial crime has been shattered in recent months, as big banks in Denmark, Finland and Sweden have become embroiled in money-laundering scandals and seen their share prices duly hammered.
Swedbank’s chairman, Lars Idermark, said the decision was the result of recent developments that had put “enormous pressure” on Swedbank. That was no understatement. It is hard to think of another financial scandal that has escalated so fast.
Ms Bonnesen’s chances of clinging to her job were not helped by the fact that before becoming chief executive, during the period under investigation, she ran the bank’s Baltic operations—just as Mr Borgen had done at Danske. Much, however, remains unclear about what those branches handled, and on whose behalf. Ms Bonnesen said last October that Swedbank had 3.3m customers in the three Baltic states, of whom 15,000 were non-resident customers from Russia and other ex-Soviet countries.
Swedbank, like Danske, now has an interim boss—Anders Karlsson, until this week its chief financial officer—who must try to get to the bottom of things and restore trust . The head of Sweden’s shareholders’ association has called for the appointment of a special auditor to look into the mess, and for the entire board to be replaced.
इंडिया ताज़ा खबर, इंडिया मुख्य बातें
Similar News:आप इससे मिलती-जुलती खबरें भी पढ़ सकते हैं जिन्हें हमने अन्य समाचार स्रोतों से एकत्र किया है।
Swedbank Ousts CEO Amid Money-Laundering ScandalSwedbank board of directors sacked Chief Executive Birgitte Bonnesen, as the fallout from the money-laundering scandal engulfing the bank gathers steam.
और पढो »
Swedbank board reaffirms confidence in CEO after money-laundering reportSwedbank's board has continued confidence in the bank's chief executiv...
और पढो »
Swedbank sacks CEO after money laundering allegationsSwedbank dismissed Chief Executive Birgitte Bonnesen on Thursday just before its...
और पढो »
Swedbank dismisses chief executive after money laundering allegationsThe board of Swedbank has dismissed Birgitte Bonnesen as CEO, the lender said.
और पढो »
U.S. authority probes Swedbank over money laundering allegations; headquarters searchedSwedish authorities searched the head office of Swedbank on Wednesday as part of...
और पढो »
Another Nordic bank CEO falls over money laundering scandal
और पढो »
Swedbank may have misled U.S. over clients' links to Panama Papers scandal: Swedish TVSwedish lender Swedbank, under pressure over allegations its Estonia operations ...
और पढो »
Even British Airways and Philips stand to lose money in India's biggest financial scandal of 2018Ahead of the debt resolution process of infra lender IL&FS, well-known companies are trying to get their voices heard in the insolvency proceedings.
और पढो »
The 3 Travel Booking Myths Costing You MoneyAfter looking at the data behind cheap flights, we busted three of travel top tips.
और पढो »