Danske Bank Management

Management criteria checks 4/4

Danske Bank's CEO is Carsten Egeriis, appointed in Aug 2017, has a tenure of 7.33 years. total yearly compensation is DKK19.98M, comprised of 72.6% salary and 27.4% bonuses, including company stock and options. directly owns 0.004% of the company’s shares, worth €850.27K. The average tenure of the management team and the board of directors is 3.8 years and 3.6 years respectively.

Key information

Carsten Egeriis

Chief executive officer

DKK 20.0m

Total compensation

CEO salary percentage	72.6%
CEO tenure	7.3yrs
CEO ownership	0.004%
Management average tenure	3.8yrs
Board average tenure	3.6yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has Carsten Egeriis's remuneration changed compared to Danske Bank's earnings?
Date	Total Compensation	Salary	Company Earnings
Sep 30 2024	n/a	n/a	DKK 23b
Jun 30 2024	n/a	n/a	DKK 23b
Mar 31 2024	n/a	n/a	DKK 22b
Dec 31 2023	DKK 20m	DKK 15m	DKK 21b
Sep 30 2023	n/a	n/a	DKK 20b
Jun 30 2023	n/a	n/a	DKK 1b
Mar 31 2023	n/a	n/a	-DKK 2b
Dec 31 2022	DKK 18m	DKK 14m	-DKK 5b
Sep 30 2022	n/a	n/a	-DKK 6b
Jun 30 2022	n/a	n/a	DKK 11b
Mar 31 2022	n/a	n/a	DKK 12b
Dec 31 2021	DKK 17m	DKK 12m	DKK 12b
Sep 30 2021	n/a	n/a	DKK 10b
Jun 30 2021	n/a	n/a	DKK 9b
Mar 31 2021	n/a	n/a	DKK 9b
Dec 31 2020	DKK 12m	DKK 10m	DKK 4b
Sep 30 2020	n/a	n/a	DKK 8b
Jun 30 2020	n/a	n/a	DKK 8b
Mar 31 2020	n/a	n/a	DKK 10b
Dec 31 2019	DKK 10m	DKK 8m	DKK 14b
Sep 30 2019	n/a	n/a	DKK 13b
Jun 30 2019	n/a	n/a	DKK 12b
Mar 31 2019	n/a	n/a	DKK 13b
Dec 31 2018	DKK 8m	DKK 8m	DKK 14b
Sep 30 2018	n/a	n/a	DKK 16b
Jun 30 2018	n/a	n/a	DKK 19b
Mar 31 2018	n/a	n/a	DKK 19b
Dec 31 2017	DKK 14m	DKK 3m	DKK 20b

Compensation vs Market: Carsten's total compensation ($USD2.78M) is below average for companies of similar size in the German market ($USD4.74M).

Compensation vs Earnings: Carsten's compensation has been consistent with company performance over the past year.

CEO

Carsten Egeriis (48 yo)

7.3yrs

Tenure

DKK 19,980,000

Compensation

Mr. Carsten Rasch Egeriis is Chairman of Danica Pension, Livsforsikringsaktieselskab from August 1, 2023. He had been Chairman of Realkredit Danmark A/S since June 9, 2020 until July 21 2021. Mr. Egeriis s...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Carsten Egeriis	CEO & Member of Executive Leadership Team	7.3yrs	DKK 19.98m	0.0038% € 850.3k
Stephan Engels	CFO & Member of Executive Leadership Team	4.7yrs	DKK 14.16m	0.0027% € 620.2k
Frans Woelders	COO & Member of the Executive Leadership Team	4.8yrs	DKK 13.13m	0.00060% € 135.3k
Karsten Breum	Chief People Officer & Member of the Executive Leadership Team	4.8yrs	DKK 10.97m	0.0076% € 1.7m
Johanna Norberg	Head of Business Customers & Country Manager - Sweden and Member of Executive Leadership Team	2.6yrs	DKK 10.50m	0.0026% € 588.7k
Magnus Agustsson	Chief Risk Officer & Member of the Executive Leadership Team	3.1yrs	DKK 13.25m	no data
Christian Bornfeld	Head of Personal Cus.	no data	DKK 13.40m	0.00096% € 216.5k
Dorthe Tolborg	Chief Compliance Officer & Member of Executive Leadership Team	1.5yrs	DKK 4.53m	0.00060% € 135.3k
Carl Alpen	Head of Large Corporates & Institutions and Member of Executive Leadership Team	1.3yrs	DKK 23.81m	no data
Mikael Deigaard	Global Chief Investment Officer	4.8yrs	no data	no data
Atilla Olesen	Head of Investment Banking & Securities	3.8yrs	no data	no data
Michel van Drie	Head of Technology	2.9yrs	no data	no data

3.8yrs

Average Tenure

55yo

Average Age

Experienced Management: DSN's management team is considered experienced (3.8 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
Martin Blessing	Independent Chairman of the Board	4.5yrs	DKK 3.36m	0.0025% € 566.1k
Lars Kolind	Member of Advisory Board	29.9yrs	no data	no data
Sten Scheibye	Member of Advisory Board	no data	no data	no data
Birgit Aagaard-Svendsen	Member of Advisory Board	no data	no data	no data
Trond Westlie	Member of Advisory Board	no data	no data	no data
Lars-Erik Brenoe	Non-Independent Director	8.8yrs	DKK 1.27m	0.0039% € 886.4k
Henrik Poulsen	Member of Advisory Board	no data	no data	no data
Allan Polack	Independent Director	2.8yrs	DKK 1.09m	0.00053% € 119.5k
Gert Kjeldsen	Member of Advisory Board	no data	no data	no data
R. Lindeløv	Member of Advisory Board	no data	no data	no data
Martin Larsen	Non-independent Vice Chairman of the Board	less than a year	no data	no data
Jacob Dahl	Independent Director	2.8yrs	DKK 1.01m	0.0022% € 500.7k

3.6yrs

Average Tenure

64yo

Average Age

Experienced Board: DSN's board of directors are considered experienced (3.6 years average tenure).

Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2024/12/19 05:30
End of Day Share Price	2024/12/19 00:00
Earnings	2024/09/30
Annual Earnings	2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

Danske Bank A/S is covered by 45 analysts. 12 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

Analyst	Institution
Mads Thinggaard	ABG Sundal Collier
Pierre-Yves Gauthier	AlphaValue
Fridtjof Berents	Arctic Securities ASA

Danske Bank Management

Management criteria checks 4/4

Key information

Recent management updates

Danske Bank Announces CFO Changes, Effective March 1, 2025

Danske Bank Appoints Ronny Junge-Larsen as Head of Advisory Banking Norway

Danske Bank Appoints Peter Lovaas as Head of Investment Banking

Insider recently bought €134k worth of stock

Insufficient new directors

Danske Bank A/S Announces Management Changes

Recent updates

Nordea Bank Abp (OM:NDA SE) completed the acquisition of Personal Customer Business and Associated Savings Assets in Norway of Danske Bank A/S.

Danske Bank A/S Revises Earnings Guidance for the Year 2024

Third quarter 2024 earnings released: EPS: kr.7.20 (vs kr.6.20 in 3Q 2023)

Danske Bank A/S Provides Earnings Guidance for 2024

Danske Bank Announces CFO Changes, Effective March 1, 2025

Danske Bank Appoints Ronny Junge-Larsen as Head of Advisory Banking Norway

Second quarter 2024 earnings released: EPS: kr.6.80 (vs kr.5.84 in 2Q 2023)

Danske Bank A/S Approves Interim Dividend, Payable on 24 July 2024

Danske Bank A/S Revises Earnings Guidance for 2024

Danske Bank Appoints Peter Lovaas as Head of Investment Banking

First quarter 2024 earnings released: EPS: kr.6.60 (vs kr.6.02 in 1Q 2023)

Danske Bank A/S Provides Earnings Guidance for the Year 2024

Upcoming dividend of kr.7.50 per share

Danske Bank A/S (CPSE:DANSKE) commences an Equity Buyback Plan, under the authorization approved on March 16, 2023.

New major risk - Revenue and earnings growth

Full year 2023 earnings released: EPS: kr.24.80 (vs kr.6.05 loss in FY 2022)

Danske Bank A/S Announces Earnings Guidance for the Year 2024

New major risk - Revenue and earnings growth

Danske Bank A/S Revises Earnings Guidance for the Year 2023

Danske Bank A/S Narrows Earnings Guidance for the Year 2023

Third quarter 2023 earnings released: EPS: kr.6.20 (vs kr.16.19 loss in 3Q 2022)

Infosys Limited (NSEI:INFY) Completed the acquisition of Danske IT And Support Services India Private Limited from Danske Bank A/S (CPSE:DANSKE).

Insider recently bought €134k worth of stock

Second quarter 2023 earnings released: EPS: kr.5.80 (vs kr.2.00 in 2Q 2022)

Danske Bank A/S to Report Nine Months, 2024 Results on Oct 31, 2024

Insufficient new directors

Infosys Limited (NSEI:INFY) entered into an agreement to acquire Danske IT And Support Services India Private Limited from Danske Bank A/S (CPSE:DANSKE) for DKK 13.6 million.

First quarter 2023 earnings released: EPS: kr.6.00 (vs kr.3.24 in 1Q 2022)

Danske Bank A/S Announces Management Changes

Danske Bank A/S Provides Earnings Guidance for the Year 2023

Danske Bank A/S acquired a 5% stake in Medistim ASA.

US Securities and Exchange Commission Files A Complaint Against Danske Bank

Third quarter 2022 earnings released: kr.16.20 loss per share (vs kr.3.77 profit in 3Q 2021)

Danske Bank A/S Revises Earnings Guidance for the Fiscal Year 2022

Danske Bank A/S Appoints Martin Stewart, as Chairman

Second quarter 2022 earnings released: EPS: kr.2.00 (vs kr.3.13 in 2Q 2021)

Danske Bank A/S, Annual General Meeting, Mar 16, 2023

Danske Bank A/S Provides Impairment Guidance for the Second Quarter of 2022

Triton Smaller Mid-Cap Fund II SCSp managed by Triton acquired an unknown majority stake in Esperi Care Oy from Danske Bank A/S (CPSE:DANSKE), Skandinaviska Enskilda Banken AB (publ) (OM:SEB A) and Ilmarinen Mutual Pension Insurance Company.

Danske Bank A/S Announces Resignation of Philippe Vollot as Chief Administrative Officer and Executive Leadership Team

Ahlsell Danmark Aps agreed to acquire a 75.49% stake in Sanistål A/S (CPSE : SANI) from Danske Bank A/S (CPSE:DANSKE), Jyske Bank A/S (CPSE:JYSK), Nykredit Bank A/S and Nordea Bank Abp (OM:NDA SE) for approximately DKK 520 million.

Danske Bank A/S Provides Earnings Guidance for the Full Year of 2022

First quarter 2022 earnings released: EPS: kr.3.20 (vs kr.3.55 in 1Q 2021)

Upcoming dividend of kr.2.00 per share

Investor sentiment deteriorated over the past week

Danske Bank A/S Announces Election of Employee Representatives to the Board of Directors

Danske Bank Announces that Chairman of Board of Directors Karsten Dybvad Will Not Stand for Re-Election

Full year 2021 earnings: Revenues and EPS in line with analyst expectations

Danske Bank A/S Provides Earnings Guidance for the Year 2022

Union Bancaire Privée, UBP SA completed the acquisition of Danske Bank International S.A from Danske Bank A/S (CPSE:DANSKE).

Interim Head of the Group Risk Management George Anagnostopoulos has left the company

An unknown buyer acquired 6.36% stake in Solon Eiendom ASA (OB:SOLON) from Danske Bank A/S (CPSE:DANSKE).

Third quarter 2021 earnings released: EPS kr.3.80 (vs kr.2.32 in 3Q 2020)

Second quarter 2021 earnings released: EPS kr.3.10 (vs kr.2.57 in 2Q 2020)

Union Bancaire Privée, UBP SA entered into an agreement to acquire Danske Bank International S.A. from Danske Bank A/S (CPSE:DANSKE).

First quarter 2021 earnings released: EPS kr.3.54 (vs kr.1.70 loss in 1Q 2020)

CEO Compensation Analysis

CEO

Tenure

Compensation

Leadership Team

Average Tenure

Average Age

Board Members

Average Tenure

Average Age

Company Analysis and Financial Data Status

Data Sources

Analysis Model and Snowflake