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NORDEA

Nordea to hire 500 advisors

Nordea AB said it will hire 500 financial advisors in Sweden over the coming two years in order to satisfy customer demand for advisory services.

“Customers are being asked to choose between ever more alternatives with regards to savings and loans, and even if our customers increasingly use internet banking, we still see a need for increased personal advice,” Nordea said.

Nordea said the hirings will not affect its overriding financial goals.

AFP

BANK

Police to investigate Nordea bank over money laundering

Danish police will investigate the Swedish bank Nordea after a year-long probe by regulators into money laundering led to "criticism" of its procedures, the bank said Friday.

Police to investigate Nordea bank over money laundering
Photo: Marcus Ericsson / TT

Detectives will examine how money laundering rules were followed at the bank's Danish subsidiary and could result in “sanctions”, Nordea said in a statement.

“We realize that we initially underestimated the complexity and the time it takes to change our procedures,” said Nordea chief executive Casper von Koskull.

The bank added that 850 Nordea employees are currently involved in the fight against money laundering which the bank plans to increase to 1,150 by the end of the year.

In May 2015 the bank was fined 50 million kronor (€5.4 million euros) – the maximum possible – by Swedish regulators who accused Nordea of “not following money laundering rules for several years” and failing to “evaluate the risks of (doing business with) certain clients”.