8.1. Introduction¹

1. Further aspects of this case study are discussed in Brown [73].

The banking and financial markets are under increasing pressure to be competitive, respond more quickly to change, and be more transparent in their governance practices. In a fiercely competitive market, Danske Bank is finding that it must realize synergies from a period of active acquisitions and mergers, solidify its market value by strengthening weakly positioned services in key customer segments, and enhance customer satisfaction in comparison to key competitors in several key market areas.

Danske Bank is the largest universal bank in Denmark and the second largest in Scandinavia, managing over $500 billion in assets. It’s part of the Danske Bank Group, offering a wide range of financial services, including insurance, mortgage finance, asset management, brokerage, and real-estate and leasing services. Danske Bank is responsible for almost 5 million retail customers and more than 2 million active Internet customers and has almost 200,000 corporate, public, and institutional clients. As a result, it has more than 21,000 employees, who are responsible for more than 600 branches across 15 countries.²