Lars Seier Christensen steps down from Saxo Bank’s Board of Management
Co-Founder and co-CEO Lars Seier Christensen has decided to step down from the board of management of Saxo Bank while remaining as shareholder. Co-founder Kim Fournais will continue as sole CEO
Effective end of 2015 Lars Seier Christensen has decided to step down after 20 years on Saxo Bank’s management board, where he and co-founder Kim Fournais jointly have acted as co-CEOs. Christensen invested in the company in 1992 and joined as co-CEO in 1995. He holds a 26 per cent stake in Saxo Bank. Kim Fournais will continue as sole CEO and head the day to day management.
The Board of Management will from 1 January 2016 consist of Kim Fournais, CEO, Steen Blaafalk, Group Chief Financial & Risk Officer, and Søren Kyhl who will join in a newly created role as Group Chief Operating Officer.
“Saxo Bank owes Lars Seier Christensen a huge tribute for his ground-breaking efforts over the past 20 years and we are very pleased that Lars will continue assisting us both as ambassador and substantial shareholder,” said Lone Fønss Schrøder, chairman of the Board of Directors of Saxo Bank.
Lars Seier Christensen said in a comment:
- "I am proud that Saxo Bank has a solid market position globally as one of the strongest facilitators of products and digital platforms within the financial sector. I had never imagined that I would stay on as CEO in the same company for 20 years, but it has been an amazing journey together with the skilled and talented employees in Saxo Bank"
- "Saxo Bank is a mature company with a continued significant potential, there is consensus concerning the business strategy and a strong management team is in place. To step back into a different role has been a wish of mine for a considerable period and I believe now is the right time. I step down as co-CEO with a firm belief in future success for Saxo Bank, in which I also privately have an interest as a shareholder. I am fully confident that Kim Fournais together with the management team will take this bank to new highs."
Kim Fournais said in a comment:
- "Lars and I have had a strong partnership since we founded the company together in 1992 and we will continue the partnership as shareholders in Saxo Bank. There is full confidence in the growth strategy within the private and institutional segments and not least in developing the best technology to support our global multi-asset product offerings."
- "Saxo Bank has strengthened its capital base and added profiles with significant qualifications and expertise to both the Board of Directors and the Board of Management. We experience a growing interest in Saxo Bank’s business model and the long-term strategy of an IPO remains unchanged."
Saxo Bank is a leading Fintech specialist and global multi-asset facilitator of capital markets products and services. Saxo enables private clients to trade more than 35,000 instruments from one single margin account.
Additionally, Saxo provides institutional clients such as banks and fintechs with Open Banking solutions from multi-asset execution, prime brokerage services to trading technology. Founded in 1992, Saxo Bank has embraced Open Banking from the beginning and is focused on helping clients and partners through win-win partnerships and product innovation.
Since launching its first online trading platform in 1998, Saxo Bank works to empower everyone to navigate their financial future by opening up access to trading and investment. The Saxo Group’s client assets total more than 45 billion euros, and the Group employs more than 2100 people in financial centres around the world including London, Singapore, Amsterdam, Shanghai, Hong Kong, Paris, Zurich, Dubai and Tokyo.For more information, please visit www.home.saxo.