Saxo Bank appoints Fan Xu as CEO of Greater China
Experienced specialist in global and Chinese capital markets to lead Saxo Bank’s Greater China business
Saxo Bank, the leading fintech and regtech specialist focused on multi-asset trading and investment, today announces the appointment of Fan Xu as CEO of Greater China. Based in Shanghai and reporting to founder and CEO, Kim Fournais, Fan Xu will be responsible for shaping and delivering on Saxo Bank’s strategy for the region. He will manage and develop relationships with key stakeholders and partners in Greater China, ensuring that Saxo Bank is well placed to leverage opportunities in the region as China’s financial markets continue to open.
Fan Xu joins Saxo with over 20 years of experience in financial services and markets, with considerable service time for Citigroup in New York and China Everbright Bank in Beijing, respectively, most recently as Chief Investment Officer at CITC Prudential Life Insurance in Beijing. During his career, Fan Xu held a number of roles in capital market related business, including financial modelling, trading, risk management and multi-asset investment. He has always been quantitative minded, technology driven and result oriented. Fan Xu holds a PhD in Atmospheric Sciences from Columbia University and conducted research in NASA.
Commenting on the appointment, Kim Fournais said: “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.
“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”, said Fan Xu.
China’s Zhejiang Geely Holding Group Co. Ltd acquired a 52 per cent stake in the bank in 2018, paving the way for long-term business development in the region.
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.