Saxo Bank has hired Mario Camara as head of Saxo Dubai and Anwaar Ahmed as head of institutional business development for MENA, as it looks to build out its presence in the region.
In a statement issued today Saxo Bank says that these two hires reflect the importance of the Middle East as a growth hub for both its retail and institutional business lines, noting that it has tripled its revenues in this region since it started operating there in 2009.
Prior to joining Saxo Bank Camara had been working with a range of international brokers and banks in the Middle East and Asia since 2007. Before that, he was at the Dubai International Financial Centre Authority (DIFCA), where he coordinated the drafting and publication of key regulations and the establishment of the commercial registry.
Ahmed, who will be based in London, has been tasked with building relationships with potential institutional clients in the MENA region. According to Saxo Bank, Ahmed has more than 28 years of relevant experience in the financial services industry gained in New York, Tokyo and London at Fundamental Brokers, Cantor Fitzgerald and, most recently, 18 years with Morgan Stanley.
Matteo Cassina, global head of sales at Saxo Bank, says: “I am confident that with Mario and Anwaar’s strong track records and strategic visions, we can further continue to build on our presence in the Middle East which is a key hub for both our retail and institutional businesses.”
Commenting on his new role, Camara claims that “The foundations for future growth are already in place” at Saxo Bank due to the strength of its online trading platform and its “strong records for fair dealing and strict compliance”.
Meanwhile Ahmed comments: “Our strategic ambition behind the Middle East drive is to be the partner of choice for institutions including banks, family offices, asset managers and corporate hedgers across the region seeking cost effective and efficient ways to seamlessly integrate trading and investing solutions onto their existing platforms. This approach not only enables them to keep up with the pace of technology, but it also enables them to reduce costs and retain clients where relevant.”