According to a Bloomberg report, Danish lender Danske Bank had fired its Head of Treasury Steen Blaafalk. He has been with Danske for three decades. Blaafalk confirmed to Bloomberg by phone that he has left the lender but would not give other details. Meanwhile, Danske Spokesman Niels Overgaard also told Bloomberg in a phone interview, "We can confirm that he has left the bank. We cannot say anything more than that." He did not name a replacement for Blaafalk nor did he say if the firing was the result of a management review.
Blaafalk's dismissal came a little less than one month after Danske also replaced former Chief Executive Officer Eivind Kolding. Thomas F. Borgen was appointed as CEO in Kolding's place. Borgen had said in an interview that Danske's performance has not been satisfactory for the past five years.
Bloomberg reported that Blaafalk had difficulty lowering the lender's funding costs in the face of stricter capital requirements.
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