Danske Bank hires compliance officer from HSBC

COPENHAGEN: Danske Bank, entangled in a massive money laundering scandals, has appointed Simon Kingsbury as head of surveillance and investigation from HSBC, the bank's head of compliance Philippe Vollot wrote on LinkedIn.

Kingsbury, who will join Danske Bank on July 15, will report to Vollot who joined from Deutsche Bank in December.

Danske Bank on Monday cut its 2019 profit outlook, partly due to higher costs related to compliance and anti-money laundering activities following its involvement in a major money laundering scandal at its Estonian branch.