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Former Danske Bank high-fliers band together to found investment rival

Last year, several senior staffers quit Danske Bank's asset management company, Danske Private Equity. A number of them have now started their own business in direct competition with their old employer, writes Inside Business.

Having left their jobs last year, a group of top ex-employees from part of the asset management arm of Denmark’s Danske Bank — Danske Private Equity (DPE) — have now joined forces to start a new fund called Sage Private Equity. They expect to raise DKK 4 billion (EUR 537 million), Inside Business reports.

Among these ex-DPE staffers is former leading partner John Danielsen and former senior partner Peter Thellufsen. Both resigned from DPE last year when Danske Bank made DPE a part of  Danske Bank Asset Management. Inside Business writes that the reorganisation sparked the resignations, because the DPE leaders had wanted their business to be more independent and to have competitive remuneration. 

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