Banking
Two analysts leave Nordea after bank says publication goes against its values
Published by maria gbaf
Posted on January 4, 2022
1 min readLast updated: January 28, 2026
Global Banking & Finance Review®
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Published by maria gbaf
Posted on January 4, 2022
1 min readLast updated: January 28, 2026
Two Nordea analysts resigned after publishing a controversial paper comparing COVID-19 lockdowns to prison, which Nordea stated went against its values.
HELSINKI (Reuters) – Two Nordea analysts suspended from publishing research after they wrote a paper that equated COVID-19 lockdowns with prison “or worse” have resigned, Nordea said on Monday, adding that the piece went against the bank‘s values.
On Nov. 20, Copenhagen-based Andreas Steno Larsen and Stockholm-based Martin Enlund published a research note in which they also implied that governments had not learned lessons on human freedom from the trials of Nazis after World War Two.
The paper sparked debate on social media, leading Nordea to delete the research from its website and investigate how it came to be published in the first place.
“The conclusion of the review is that it contains statements and references that are not consistent with Nordea’s code of conduct and values,” the bank said in the statement.
Larson confirmed on Twitter that he had resigned. Enlund was not immediately available to comment.
Nordea said that the pair had the option to stay but had decided to leave the bank.
(Reporting by Essi Lehto; Editing by Kirsten Donovan)
The main topic is the resignation of two Nordea analysts following a controversial publication that went against the bank's values.
The analysts resigned after publishing a paper comparing COVID-19 lockdowns to prison, which sparked debate and was against Nordea's values.
Nordea removed the controversial research from its website and stated it was inconsistent with their code of conduct and values.
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