Saxo Bank, which provides multi-asset trading and investment, today announces the appointment of Steve Weller as CEO of the MENA Region.
Weller will be based in the Dubai office and report directly to Damian Bunce, CCO.
In his new role, Weller will assume the overall responsibility to grow and develop the business and client base in the region.
Weller has more than 25 years of experience in the global foreign exchange market. Most recently, he was managing director and global head of Sberbank of Russia’s (CIB) foreign exchange business. Before joining Sberbank CIB, he was the head of foreign exchange Asia-Pacific at Barclays PLC, based in Singapore and priior to this, the global head of FX spot and forward trading at Lehman Brothers.
Commenting on his appointment, Bunce says: “We are extremely pleased to welcome Steve on board as the CEO of the MENA region. Steve is a highly accomplished, resourceful and results-focused senior executive with a proven track record in consistently delivering robust and sustainable results. The MENA region is central to Saxo Bank’s strategy and we have a truly unique offering to bring to the market. We need to execute effectively on the many opportunities and I am very excited that Steve will lead these efforts.”
“I am truly excited to join Saxo Bank and very much look forward to helping develop our business in Dubai and the wider MENA region. With the financial industry’s attention increasingly turning to technology and digital client experience, Saxo’s reputation in fintech makes it the perfect place to operate in order to be at the forefront of these developments,” adds Weller. “Saxo Bank provides uniquely broad and efficient access to global capital markets for its clients, which is becoming increasingly relevant as clients seek to balance portfolios across geographies and asset classes.”
“Saxo also offers its technology to other banks and brokers, delivering ‘banking-as-a-service’ and this in my view is a particularly interesting growth opportunity. The financial industry is at an inflection point as banks seek to replace inefficient infrastructure with more cutting edge technologies. It appears highly likely that partnerships around technology will grow in number and depth allowing these banks to service clients with a best in class client experience at a fraction of the cost of old legacy systems.”