Thomas F. Borgen

Thomas F. Borgen (born 27 March 1964) is a Norwegian banker and business leader. He served as chief executive officer of Danske Bank from 2013 until September 2018, when he resigned following the publication of the bank's internal investigation into the money-laundering scandal involving its Estonian branch.

Early life and education Thomas Borgen was born on 27 March 1964 in Sarpsborg, Norway. In 1987, he earned a BA in Business Organisation from Heriot-Watt University in Edinburgh, followed by an MBA in 1989 from Syracuse University in New York.

In September 2013, Borgen replaced Eivind Kolding as chief executive officer of Danske Bank.

After leaving Danske Bank, Borgen has held advisory and board roles, including as a senior adviser with Bain & Company and as a board member of Wilh. Wilhelmsen Holding ASA.

Danske Bank scandal and legal proceedings The Danske Bank money-laundering scandal concerned suspicious transactions through the bank's Estonian branch between 2007 and 2015. Borgen was CEO of Danske Bank when the matter became public in 2018 and resigned after the bank released the conclusions of its internal investigation.

Borgen was also sued by investors seeking compensation for losses linked to the scandal. In November 2022, a Danish court cleared him of liability in the shareholder lawsuit.