Danske Bank will appoint Chief Audit Executive Dorthe Tolborg to serve as its chief compliance officer after current CCO Satnam Lehal announced he would depart the bank in early 2024.
Tolborg will assume the CCO role June 1 and join the bank’s executive leadership team, which will expand to nine members, Danske Bank said in a press release Monday.
“Anchoring compliance in the executive leadership team will ensure that, following years of significant investments, we can continue to integrate our compliance efforts into our business,” said Danske Bank Chief Executive Carsten Egeriis in the release. “[W]ith her background and competencies, [Tolborg] is exactly the right person to lead this work.”
Tolborg stated the bank has “come a long way with our overall management of compliance risk.” She has served as chief audit executive since 2015 and brings decades of previous Big Four experience, including as a partner at PwC, Deloitte, and KPMG.
She succeeds Lehal, who announced in January his plans to leave. Lehal joined Danske Bank as its head of financial crime compliance in July 2019 as it was dealing with the fallout of its Estonia money laundering scandal and was promoted to CCO in November 2021.
Lehal will stay on to ensure transition of his duties and focus on the final implementation of the bank’s financial crime plan, which is expected to be completed by the end of 2023.