Danske Bank has appointed Gilbert Kohnke Chief Risk Officer (CRO). He will be responsible for Group Risk Management and will join Danske Bank's Executive Board on 1 April 2015.

 

Gilbert Kohnke is Canadian and joins us from a position as Group Chief Risk Officer at OCBC Bank in Singapore.

 

“Gilbert Kohnke is an internationally recognised professional with more than 25 years' risk management experience from global financial companies. Credit and risk management are crucial elements in operating a solid and competitive bank, and we look forward to drawing on Gilbert's expertise,” says Thomas F. Borgen, CEO of Danske Bank.

- See more at: http://globenewswire.com/news-release/2015/01/30/701652/0/en/Danske-Bank...

Denmark-based Danske Bank has appointed Gilbert Kohnke as chief risk officer. He assumes the role from Robert Endersby,  who resigned last year after serving as head of group risk management and a member of the bank’s executive board since 2012.

In addition to Endersby, several executives have either resigned or were fired  since 2012 after the bank failed to match investor returns at its biggest Swedish competitors, Bloomberg News reported in March. Among those fired include Chief Executive Officer Eivind Kolding and Steen Blaafalk, former head of treasury.

Kohnke, who has more than 25 years risk management experience from global financial companies, joins Danske from Singapore-based OCBC Bank, where he served as group chief risk officer.

Picking up the pieces where Endersby left off, Kohnke will be responsible for group risk management and will join Danske Bank's executive board on April 1.

Ongoing Investigation

It's a tumultuous time for the bank. In February 2014, the Danish Public Prosecutor for Serious Economic and International Crime brought accusations against Danske, its mortgage unit Realkredit Danmark, and six employees for alleged price manipulation.

Following an internal investigation, Danske found that bond transactions between Realkredit Danmark and Danske in the corporate mortgage bond market in 2009 violated the group’s internal rules. Danske informed the Danish Financial Supervisory Authority (FSA) of the matter, which handed it over to the Prosecutor's Office.

According to Danske, four employees from the banking operation and Realkredit Danmark violated internal rules and may potentially have manipulated prices in 2009. The internal investigation found no evidence that staff members other than the four in question were involved in the transactions.

As of July, Realkredit Danmark said it continues to fully cooperate with authorities.

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