The ‘Mean and Lean’ Bank Culture That Fed a Dirty Money Scandal
- Danish FSA says Danske staff didn’t pass on bad news to top
- Denmark says Danske scandal puts country’s reputation at risk
The headquarters of Danske Bank A/S in Copenhagen.
Photographer: Freya Ingrid Morales/Bloomberg
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Denmark’s biggest bank may have let its “efficient machinery” blind it to years of warning signals that something was seriously wrong, according to the head of the country’s financial regulator.
At Danske Bank A/S, “the culture was to solve issues at a lower level rather than to bring them to people’s attention higher up,” Jesper Berg, director general at the Financial Supervisory Authority in Copenhagen, said in an interview at his office on Friday.