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A year after the money laundering case: CBS is ready for new collaborations with Danske Bank

Danske Bank is one of CBS' 10 Corporate Partners together with, for example, Novo Nordisk, Qvarts, and Maersk. (Photo: Mette Koors)

CBS is now ready for new collaborations one year after deciding to curb its links with Danske Bank as a direct consequence of the money laundering case that hit the headlines. Replacing the top management and restoring confidence in the bank were CBS’ conditions for reconnecting with its former collaborator.

News |   21 Nov 2019

Anne M. Lykkegaard

Journalist

In October last year, the former President of CBS, Per Holten-Andersen decided to curb all new ties with Danske Bank while the money laundering case was under investigation and announced at the time:

“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,” Per Holten-Andersen said.

Now, one year later, CBS is ready to let Danske Bank back into the fold, as the Senior Management and CBS’ Board of Directors have agreed that Danske Bank has succeeded in restoring confidence in the bank.

“Our decision to open up to new collaborations has been conditional on Danske Bank appointing a new top management that is willing to restore trust in the bank. Since these conditions have now been met, CBS is ready to start new collaborations with Danske Bank,” says Nikolaj Malchow-Møller, President of CBS in a statement at CBS.dk.

CBS WIRE asked Nikolaj Malchow-Møller how he thinks Danske Bank has succeeded in restoring confidence in the bank, and whether CBS is making other or new demands on how collaborations with Danske Bank should be addressed in the future. However, Nikolaj Malchow-Møller did not wish to comment.

On the subject of CBS’ decision to team up with Danske Bank once again, the CEO of Danske Bank, Chris Vogelzang said to Børsen:

“Danske Bank has had close collaborations with CBS for many years, and we are happy that the relationship is now normalized. As a part of our ambition to become an even better bank for all our stakeholders, we wish to contribute to research as well as education in the societies, in which we are part of. We look forward to our future collaboration with CBS.”

Nikolaj Malchow-Møller explains in the statement at CBS.dk that one of CBS’ roles is to contribute to the “responsible development of the business sector”.

“We do this through, for instance, research and education collaborations. Therefore, I am pleased that the basis for collaboration with Danske Bank has been restored,” says Nikolaj Malchow-Møller.

At the moment, no new collaborations are in the melting pot.

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