July 9, 2019 / 2:09 PM / 3 months ago

Danske Bank hires compliance officer from HSBC

FILE PHOTO: Danske Bank flag flutters at the bank's Estonian branch in Tallinn, Estonia August 3, 2018. REUTERS/Ints Kalnins/File Photo

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

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

Reporting by Andreas Mortensen; editing by Jacob Gronholt-Pedersen and Alexander Smith

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