Fan Xu has been appointed head of Greater China Business for Saxo Bank, based in Shanghai and reporting to Saxo Bank founder and CEO, Kim Fournais. Xu will be responsible for the firm’s strategy for the region. He will be tasked with managing and developing relationships with key stakeholders and partners in Greater China, ensuring that the firm is well placed to leverage opportunities in the region as China’s financial markets continue to open.
Xu joins with over 20 years of experience in financial services and markets, having previously worked for Citigroup in New York and China Everbright Bank in Beijing, and most recently, as CIO at CITIC Prudential Life Insurance in Beijing.
Commenting on the appointment, Fournais says: “Greater China is of strategic importance to Saxo Bank and we are proud to have an experienced specialist in global and Chinese capital markets help us deliver on our vision and strategy. Greater China is an epicentre of fintech and China’s importance in global financial markets will unquestionably continue to rise. We see large opportunities for Saxo Bank to build partnerships in the region and, as capital markets continue to open, leverage our multi-asset investment and trading solutions to help broaden opportunities and improve risk management and diversification. Building a successful business in the region requires robust knowledge of global and Chinese capital markets, IT, quant analysis, a strong track record in risk management, a thorough understanding of local rules and regulations and a commitment to setting the highest standards in the industry. Fan Xu possesses all these attributes and we have a strong cultural fit based on shared virtues and goals.”
Xu comments: “Saxo Bank has built an outstanding fintech and regtech business, bringing efficiency and transparency to the multi-asset trading and investment environment. It has succeeded in winning the trust of its private and institutional clients by continually innovating its products, platforms and services and improving access to global financial markets, while doing so in a prudent and transparent manner. These qualities are core to success in the Greater China market and I am excited by the opportunity ahead to build strong foundations for the bank’s business and to develop long-term partnerships in the region.”
China’s Zhejiang Geely Holding Group acquired a 52% stake in Saxo Bank in September 2018, a deal that the Danish firm says will help pave the way for long-term business development in Greater China.