From: RegTech Analyst
Swedish lender Swedbank has named Rolf Marquardt as its new chief risk officer as the bank doubles down on its efforts to strengthen its anti-money laundering (AML) structures after the Danske Bank scandal.
The scandal has put Danske Bank under investigation for having allegedly allowed over $220bn in suspicious transactions being processed by the bank between 2007 and 2015.
Swedbank was swept into the scandal because it also processed some of those transactions. Not only did it result in a lot of humiliation for the bank, it also caused the Swedish lender’s revenues to plummet and it ousting both its old chairman and CEO.
It also seems as if Swedbank will continue to feel the effects of the money laundering for some time yet as the lender reported that it had found suspicious transactions totalling $4.8m at the beginning of March.
It is against this background that the hire of the new chief risk officer should be seen.
“I look forward to working with Rolf Marquardt who, with his solid banking experience and his deep knowledge of risk-related issues, will be a [contribution] to Swedbank and our executive management,” said Jens Henriksson, president and CEO of Swedbank.
Marquardt will take up his new position no later than October 1, 2020.
Copyright © 2020 FinTech Global
