Independent University Newspaper

Copenhagen Business School

CBS will not establish new collaboration with Danske Bank… for now

(Photo: Anne M. Lykkegaard)

The senior management at CBS has decided to curb new collaboration with Danske Bank as a direct consequence of the ongoing money laundering case. No new collaboration will be established until new top management has been appointed at the bank, says the President of CBS.

News |   04. Oct 2018

Anne M. Lykkegaard

Journalist

Danske Bank’s money laundering case, in which potentially more than DKK 1,000 billion was laundered via the bank’s Estonian branch, is resulting in consequential action taken by CBS.

According to a statement on CBS’ intranet, Share, senior management has decided to curb new collaboration with the bank.

“We have decided that CBS will not establish new collaborations with Danske Bank, until a new top management has been appointed and has demonstrated the ability to restore confidence in the bank through critical dialogue with society,” says Per Holten-Andersen in the statement.

After the bank’s own internal investigation revealed gross mismanagement in relation to money laundering, members of the senior management have, according to the statement, been asked questions about CBS’ current and future plans for collaboration with Danske Bank. And this resulted in CBS looking into its current collaborations with Danske Bank in order to make a decision.

“There is no doubt that we are taking this matter very seriously – not least because we, as a business school, wish to promote and develop responsibility and responsible leadership in our students,” it says in the statement from senior management.

The current collaboration, which will continue according to the statement, totals DKK 21.5 million, of which DKK 9 million is donated by Danske Bank, the statement shows.

“However, there is no doubt that we will paying special attention to our collaborative relationships with Danske Bank and the next steps of the bank’s top management in the coming months,” says Per Holten-Andersen.

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