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"Act decently," Pensam CEO tells bankers and lawyers in candid letter

Torsten Fels, CEO of Denmark's Pensam, has made it plain he will not do business with companies which help their customers engage in tax fraud or money laundering. To be crystal clear, the pensions chief wrote to 20 CEOs of Danish and international financial institutions, law firms and audit firms.

Torsten Fels, CEO of Pensam. | Photo: PR.

Last week, Torsten Fels, CEO of the Danish labour-market pension provider Pensam, wrote a letter to Danske Bank, Deutsche Bank, Nordea and other financial institutions -- as well as to several law firms and audit firms.

The letter is an explicit plea to act decently.

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