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Troubled Nordic Banks Push Through Yet Another Executive Purge

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The two biggest Nordic banks extended a purge at the very top of their ranks in the hope of improving revenue and restoring confidence tattered by money laundering scandals.

Nordea Bank Abp named Frank Vang-Jensen chief executive officer on Thursday after activist investors had spent months hammering the lender for its failure to boost income. At Danske Bank A/S, one third of the executive management team is out as its new CEO brings in people with more experience, including a new chief financial officer from Commerzbank AG.