April 5, 2018 / 6:19 AM / 7 months ago

BRIEF-Danske Bank's Business Banking Chief Resigns

April 5 (Reuters) - Danske Bank A/S:

* SAYS ‍LARS MØRCH HAS TODAY RESIGNED FROM HIS POSITION AS MEMBER OF EXECUTIVE BOARD OF DANSKE BANK

* MØRCH HAS BEEN RESPONSIBLE FOR BUSINESS BANKING SINCE 2012, INCLUDING DANSKE BANK’S INTERNATIONAL BANKING UNITS AND THE BALTIC OPERATIONS​

* ‍”ALTHOUGH ONGOING INVESTIGATIONS INTO ISSUES RELATED TO ESTONIAN NON-RESIDENT PORTFOLIO HAVE NOT BEEN COMPLETED, IT IS NOW CLEAR THAT BANK SHOULD HAVE UNDERTAKEN MORE THOROUGH INVESTIGATIONS AT AN EARLIER POINT,” SAYS CHAIRMAN OLE ANDERSEN

* “SUCH INVESTIGATIONS WOULD HAVE LED US TO UNDERSTAND THE FULL EXTENT OF THE ISSUES SOONER AND PROMPTED SWIFTER ACTIONS. WE HAVE DISCUSSED THIS SITUATION WITH LARS MØRCH OVER THE LAST FEW WEEKS”​

* ‍LARS MØRCH WILL BE RELEASED FROM HIS ORDINARY WORK DUTIES AS SOON AS POSSIBLE​

* ‍THOMAS F. BORGEN WILL TEMPORARILY ASSUME LARS MØRCH’S RESPONSIBILITIES ON EXECUTIVE BOARD​ Further company coverage: (Reporting by Stine Jacobsen)

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