Former Commerzbank CEO and UBS manager Martin Blessing could be heading north to chair the board of directors of Denmark's largest bank.
Danske Bank is looking for a new board of directors chairman after Karsten Dybvad announced his resignation, the Copenhagen-based bank announced on Tuesday.
Dybvad recommends the election of former Commerzbank CEO and UBS manager Martin Blessing as his successor at the bank's annual general meeting later this month.
«Troika Laundromat» in Estonia
The bank was rocked by a major money-laundering scandal three years ago. The alleged crimes in the «Troika Laundromat» involved laundering billions of euros in funds from Russia and the former Soviet republics via its branch in Estonia.
Detour to Switzerland
Blessing, who joined Danske's board of directors as a member in 2020, headed Germany's Commerzbank from 2008 to 2016 amid the financial crisis. He later moved to UBS, where he was initially responsible for the Swiss business. In 2018, he took over as co-chief executive officer of the core wealth management division.
After a rather weak performance in the division, he was succeeded by former Credit Suisse manager Iqbal Khan in 2019.
