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.
Tag: Saxo Bank
Fintech firm Saxo Bank has announced the appointment of Thomas Hovard to the position as COO of global distribution and client services, effective from 4 February 2019. He will report directly to Damian Bunce, chief commercial officer.
Hovard joins from Danske Bank where he most recently served as global head of DCM sales and research. During his 16 -ear tenure with Danske Bank he has held several positions in both research and sales.
In his role at Saxo, he will be responsible for the ongoing operations of the global distribution and client services organisation and ensuring that the group’s strategy is executed across markets.
Saxo Bank, which describes itself as a fintech specialist focused on multi-asset trading and investment, has announced two changes to its board of management.
Current member of the board, Søren Kyhl, has been promoted to deputy CEO while also continuing in his role as COO, and Damian Bunce has been appointed to the board with the new title of chief commercial officer. In addition to Kyhl and Bunce, the Saxo board of management consists of CEO, Kim Fournais, and chief financial and risk officer, Steen Blaafalk.
“With Damian Bunce as a new member of the board of management, Saxo further increases the essential client and commercial focus. The promotion of Søren Kyhl to the newly established role as deputy CEO adds even more firepower to Saxo’s strategy execution and provides a steadfast long-term leadership of the bank
On a panel discussion entitled “The Twists and Turns of FXPB”, speakers at Profit & Loss Forex Network Chicago discussed the possibility for technology to radically re-shape the prime services ecosystem.
Technology’s impact on prime services was the jumping off point for the last panel at Profit & Loss Forex Network Chicago. Peter Plester, head of prime brokerage at Saxo Bank A/S highlighted the impact that technology had already in terms of risk management in this segment pointing out that the traditional plumbing for starting up a prime broker was to connect to NEX Traiana and the various ECNs and have STP for tickets, but that the central risk system internal to the PB was fairly manual.
Saxo Bank has hired Eric Krueger to the new position of global head of client services, effective from 2 July. He will report directly to Damian Bunce, CCO.
In this new role, Krueger will be tasked with developing Saxo’s client relationships and the infrastructure serving those clients. He assumes the overall responsibility of leading the global client services organisation to further improve the firm’s client service.
Krueger joins after nine years at Barclays, where he most recently served as managing director and head of cash execution sales for the EMEA region. Before joining Barclays in 2009, he also worked at Merrill Lynch for 11 years in various leadership positions focusing on program trading and electronic trading.
Claus Nielsen, heads of markets at Saxo Bank, is leaving the firm after almost 15 years.
The firm says, “Given the changes to our organisational structure, Claus Nielsen has considered new opportunities within Saxo Bank, but has reached the conclusion that it is time to look for new challenges outside Saxo Bank.”
Kim Fournais, CEO of Saxo says, “I want to sincerely thank Claus his contribution to Saxo Bank in his roles as head of markets, executive team member as well as valued colleague and friend. Following the organisational change announced today, we have carefully explored new opportunities for Claus within Saxo but I respect Claus’ decision to take the opportunity to look for new challenges outside Saxo.”
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.
Saxo Bank has appointed Vivienne Yu as CEO of Greater China to help grow the firm’s retail and wholesale business in the region.
In this role, Yu will assume overall responsibility for expanding Saxo Bank’s services and customer base and drive strategic business growth in the Greater China region, including offices in Hong Kong and Shanghai.
Additionally, she will manage and develop relationships with key stakeholders and partners in China and Hong Kong.
Prior to this role, Yu most recently served as CEO China at Commonwealth Bank of Australia (CBA), where she led the bank’s China’s investment and proprietary banking business for the retail, SME and institutional client base.
Saxo Bank has hired Ulrik Ross as head of group treasury, effective March 1, 2018, he will replace Henrik Andersen, who has decided to step down to assume a new position on the board of management at KommuneKredit, according to Saxo.
Ross will report directly to Steen Blaafalk, head of group finance & risk (GFR), and will be part of the global management team in GFR and Saxo Group’s senior management team, in his role, Ross will assume the overall responsibility for all Treasury activities.
Saxo Bank has established a new quant unit and hired Jesper Andreasen and Hans-Jørgen Terp Flyger to set up and run it with the responsibility to drive and manage the development of new state-of-the-art risk tools.
The firm says the new tools will support its internal risk functions and will also allow Saxo to offer new and better tools for clients including forward-looking risk management tools.
Andreasen has served as head of the quant department at Danske Markets and Flyger as head of derivatives and risk IT at Danske Markets.