{{Short description|Norwegian banker and business leader}} {{Infobox person | name = Thomas Borgen | image = | caption = | birth_name = Thomas F. Borgen | birth_date = {{birth date and age|1964|03|27|df=y}} | birth_place = Sarpsborg, Norway | death_date = | death_place = | education = Heriot-Watt University<br> Syracuse University | occupation = Banker | known_for = Former chief executive officer of Danske Bank | title = Former CEO, Danske Bank | term = 2013–2018 | predecessor = Eivind Kolding | successor = Chris Vogelzang | boards = | spouse = | children = | parents = | relatives = | website = }}
'''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.<ref name="guardian">{{cite web|url=https://www.theguardian.com/business/2018/sep/19/danske-bank-chief-resigns-over-money-laundering-scandal|title=Danske bank chief resigns over €200bn money-laundering scandal|first=Rupert|last=Neate|date=19 September 2018|website=The Guardian|accessdate=19 September 2018}}</ref><ref name="danske-resignation">{{cite web|url=https://danskebank.com/news-and-insights/news-archive/company-announcements/2018/ca19092018a|title=Danske Bank's CEO resigns|date=19 September 2018|website=Danske Bank|accessdate=19 May 2026}}</ref>
==Early life and education== Thomas Borgen was born on 27 March 1964 in Sarpsborg, Norway.<ref name="danskebank2013">{{Cite web|url=https://www.danskebank.com/en-uk/press/News/Press-releases-and-company-announcements/Company%20announcement/Group/Pages/ca16092013.aspx|title=Management changes - New Chief Executive Officer|accessdate=25 September 2019|archive-date=20 September 2018|archive-url=https://web.archive.org/web/20180920011415/https://www.danskebank.com/en-uk/press/News/Press-releases-and-company-announcements/Company%20announcement/Group/Pages/ca16092013.aspx|url-status=dead}}</ref><ref name="dr">{{cite web|url=https://www.dr.dk/nyheder/penge/thomas-borgen-rapporten-tydeliggoer-jeg-har-traadt-ved-siden-af|title=Thomas Borgen: 'Rapporten tydeliggør, at jeg har trådt ved siden af'|date=19 September 2018|website=DR|accessdate=19 September 2018}}</ref> 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.<ref name="danskebank2013"/><ref name="dr"/>
==Career== Borgen joined Danske Bank in 1997.<ref name="danskebank2013"/>
In 2009, he was appointed to Danske Bank's executive board and became responsible for the bank's activities in Norway and Sweden.<ref>{{cite web|url=https://danskebank.com/news-and-insights/news-archive/company-announcements/2009/ca11082009b|title=Danske Bank expands Executive Board and appoints new heads of its units in Norway and Sweden|date=11 August 2009|website=Danske Bank|accessdate=19 May 2026}}</ref>
In September 2013, Borgen replaced Eivind Kolding as chief executive officer of Danske Bank.<ref name="danskebank2013"/>
On 19 September 2018, Borgen resigned as CEO of Danske Bank following the publication of the bank's internal investigation into the Estonia money-laundering case.<ref name="guardian"/><ref name="danske-resignation"/><ref>{{cite news|url=https://www.reuters.com/article/us-danske-bank-moneylaundering/danske-bank-ceo-resigns-over-money-laundering-scandal-idUSKCN1LZ0QX|title=Danske Bank CEO resigns over money laundering scandal|date=19 September 2018|work=Reuters|accessdate=19 September 2018}}</ref>
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.<ref>{{cite web|url=https://www.wilhelmsen.com/about-wilhelmsen/governing-elements/board-and-management/board-of-directors/thomas-fredrick-borgen/|title=Thomas Fredrick Borgen|website=Wilh. Wilhelmsen Holding ASA|date=9 May 2025|accessdate=19 May 2026}}</ref>
==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.<ref name="guardian"/><ref name="danske-resignation"/>
In 2019, Danish prosecutors brought preliminary charges against Borgen and several other former Danske Bank executives in connection with the money-laundering investigation. In April 2021, Danish prosecutors dropped the charges against Borgen and two other former senior executives.<ref>{{cite news|url=https://www.reuters.com/markets/us/danish-prosecutors-drop-money-laundering-charges-against-former-danske-bank-ceo-2021-04-29/|title=Danish prosecutors drop money laundering charges against former Danske Bank CEO|date=29 April 2021|work=Reuters|accessdate=19 May 2026}}</ref>
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.<ref>{{cite news|url=https://www.reuters.com/business/finance/danske-bank-ex-ceo-cleared-liability-investor-lawsuit-2022-11-08/|title=Danske Bank ex-CEO cleared in $322 mln investor lawsuit over Estonia case|date=8 November 2022|work=Reuters|accessdate=19 May 2026}}</ref>
==References== {{Reflist}}
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{{DEFAULTSORT:Borgen, Thomas}} Category:Living people Category:1964 births Category:Norwegian bankers Category:Norwegian chief executives Category:Alumni of Heriot-Watt University Category:Martin J. Whitman School of Management alumni Category:People from Sarpsborg Category:Danske Bank people