Pursuits
Danske CEO Reveals Ambitions for Bank's $207 Billion Wealth Unit
- Wealth management pretax down 25% amid market turbulence
- CEO Thomas Borgen says bank has attracted new customers
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Danske Bank A/S has created a wealth management unit that’s almost twice as big as Denmark’s largest pension fund and about two-thirds the size of the country’s economy.
The 1.35 trillion kroner ($207 billion) unit, which has existed in its current form since April 1 after the bank combined several divisions including its pension business, will target growth in one of the world’s richest corners as Scandinavians look for ways to generate returns on their growing pile of savings.