The Danske Bank chief executive Chris Vogelzang has resigned after Dutch authorities identified him as one of the suspects in the investigation of potential violations of Dutch anti-money laundering legislation at ABN AMRO, the third-largest bank in the Netherlands.
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Danske Bank is currently embroiled in investigations over suspicion of its Estonian branch being used to launder up to 1,500 billion Danish kroner (about 242 billion U.S. dollars) from 2007 to 2015.
“I am very surprised by the decision by the Dutch authorities. I left ABN AMRO more than four years ago and am comfortable with the fact that I managed my management responsibilities with integrity and dedication. My status as a suspect does not imply that I will be charged.
"However, given the special situation Danske Bank is in and the intense scrutiny the bank is under, particularly in relation to anti-money laundering as a consequence of the still unresolved Estonia matter, I do not want speculations about my person to get in the way of the continued development of Danske Bank.
"Therefore, I feel that the only right thing is for me to leave. I am very sad to leave Danske Bank, which is a great company with extremely competent people, and it has been a great honor for me to lead it,†says Chris Vogelzang.
“We are very sorry to see Chris Vogelzang leave Danske Bank. He has been instrumental in the initiation of the ongoing transformation of Danske Bank and the progress and results it has already created. We fully understand and respect his decision and thank him for his huge efforts.
"I am pleased that we have a strong and competent successor in Carsten Egeriis, who has been part of the Executive Leadership Team as Chief Risk Officer for almost four years. He has had a pivotal role in our remediation efforts and in the strengthening of the risk area over the last years and not least in the bank’s handling of the corona crisis.
"He has more than 20 years’ experience from the financial sector, and the Board is confident that he is the right person to lead the transformation that is already progressing well,†says Karsten Dybvad, Chairman of the Board of Directors.
Following Vogelzang's resignation, former Netherland's Finance Minister Gerrit Zalm, fellow board member and compatriot of Vogelzang, also tendered his resignation from the Danske Bank Board. ■