Danish asset manager Bankinvest will have to scout for new profile to preside over its board of directors.
News emerged earlier this week that current Chair Niels Heering has accepted a position as senior general council at Danske Bank.
Even though the incoming chief lawyer won't be working in Danske Invest, Bankinvest is nonetheless a competitor with Danske bank, thereby making the two roles incommensurable, writes AMWatch's Danish sister media FinansWatch.dk.
"Bankinvest and Danske Bank are competitors, so I must, of course, withdraw as chair in order to take upon this new role," Heering says and continues:
"It's on the annual general meeting agenda in April, and I will thus resign from Bankinvest's board of directors before I begin at Danske Bank on May 1."
Additional members leave board
The AGM summons informs that further board seats are also up for replacement.
Professional board members Bjarne Ammitzbøll and Ole Jørgensen are reportedly also stepping down.
Bankinvest's board also nominates Niels Bang, Ole Selch Bak and Kirstine Damkjær for reelection.
New faces in the legal department
At Danske, Heering will taking over Jennifer Elizabeth Nielsen's role as she will be leaving the bank's legal department at the end of April.
Beyond his new position in Danske Bank, Heering is also tied to law firm Gorrissen Federspiel as attorney and partner where he has served as managing partner since 2003 and chaired the board from 2010-2015.
The bank's new chief legal council said earlier this week in a written comment that Danske made contact and offered him the job.
"When the CEO of the country's largest bank phones with an favorable proposal, one listens, naturally. Joining Danske Bank is an exciting challenge that I simply felt I obliged to accept. And I also think I have something to offer," he wrote.
English Edit: Daniel Frank Christensen
(Note: citations translated from Danish)
(This article was provided by our Danish sister media, Finanswatch.dk)