New senior FX structure reinforces Saxo Bank’s currency expertise
Based in Singapore, Kurt vom Scheidt started at Saxo in 2008 and has been instrumental in successfully growing the FX Options, the FX API and Prime Brokerage businesses. He will continue to report to Claus Nielsen, Global Head of Markets.
Prior to Saxo, vom Scheidt held various roles with business management and IT responsibilities at GFI, Commerzbank and Deutsche Bank in London.
Other appointments include Dan Larsen, FX options and spot trader at Saxo Bank since 2007, will now assume responsibility for the FX Spot, Forwards and Options trading team in Copenhagen. Jes Jorgensen has also joined Saxo in Copenhagen as a senior FX Options trader. Jorgensen was previously at Danske Bank, where he was Chief Dealer and then headed the FX Options trading team where his responsibilities extended to product development and the implementation of a new pricing and risk management system.
At the same time, Saxo Bank said Gustave Rieunier is leaving the Bank after five years as the Head of FX.
Commenting on the changes, Claus Nielsen said,
“I would like to thank Gustave for his contribution over the years. I respect his decision to leave Denmark and we all wish him luck for the future. Kurt’s personal drive and ambition for the Bank will continue to drive our foreign exchange business, especially given the trend to electronification in the market and upcoming regulatory changes. We are also proud to extend management responsibility to Dan Larsen, who has delivered solid trading performance for us over the years and, of course, we are pleased to have attracted an industry veteran like Jes to the team.
“Despite our multi-asset offering, the foreign exchange business still accounts for approximately 60% of Saxo’s revenues. The new senior foreign exchange team reinforces Saxo Bank’s currency expertise accessed by our award-winning platforms including the new, intuitive SaxoTraderGO, which brings together content, trading, account information and relationships within one, highly-accessible platform.”
Saxo Bank Group (Saxo) is a leading Fintech specialist focused on multi-asset trading and investment and delivering ‘Banking-as-a-Service’ to wholesale clients.
For 25 years, Saxo’s mission has been to democratize investment and trading, enabling clients by facilitating their seamless access to global capital markets through technology and expertise.
As a fully licensed and regulated bank, Saxo enables its direct clients to trade multiple asset classes across global financial markets from one single margin account and across multiple devices. Additionally, Saxo provides wholesale institutional clients such as banks and brokers with multi-asset execution, prime brokerage services and trading technology, supporting the full value chain delivering Banking-as-a-Service (BaaS).
Saxo’s award winning trading platforms are available in more than 20 languages and form the technology backbone of more than 100 financial institutions worldwide.
Founded in 1992 and launching its first online trading platform in 1998, Saxo Bank was a Fintech even before the term was created. Headquartered in Copenhagen Saxo today employs more than 1500 people in financial centers around the world including London, Paris, Zurich, Dubai, Singapore, Shanghai, Hong Kong and Tokyo.