Saxo Bank announces changes to its Board of Management
Saxo Bank, the leading Fintech specialist focused on multi-asset trading and investment, today announces two changes to the Board of Management in order to further strengthen client focus, corporate governance and strategy execution.
- Board of Management member Søren Kyhl has been promoted to Deputy CEO while he continues in his role as COO.
- Damian Bunce has been appointed member of the Board of Management with the new title of Chief Commercial Officer.
Members of the Board of Management are appointed by the Board of Directors. The Board of Management now consists of CEO Kim Fournais, Deputy CEO and COO Søren Kyhl, CFRO Steen Blaafalk and CCO Damian Bunce.
The changes strengthen Saxo Bank’s leadership and accountability in the Board of Management in relation to clients, shareholders, Board of Directors, regulators and employees.
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. As Deputy CEO and COO, Søren is the natural and logical interim successor to Kim Fournais should that become necessary.
Kim Fournais comments: “I am proud and satisfied that Søren has been appointed Deputy CEO and that Damian will join our Board of Management. The appointments reflect their excellent skills, knowledge attitude, motivation and high importance to the Bank and our future growth journey. With these changes we ensure clarity, focus and accountability and the changes allow me to focus on constantly improving and executing the strategy for Saxo Bank while building a world-class team and organisation.
Søren is a very natural and competent Deputy CEO that I trust to run certain important strategic priorities. These changes will further strengthen and professionalise Saxo and I am proud to be leading such a unique team. I am more passionate and fired up than ever to ensure that Saxo will prevail and become the fastest growing financial institution within traders, investors and wholesale partners. This is therefore not a retirement plan for me but an upgrade of our leadership capabilities, better supporting our fiduciary duties as well as creating a natural deputy function for me and Saxo going forward.”
The Executive Team will continue to be the global executive leadership team in Saxo Bank. Besides from the Board of Management members, it consists of CIO Ashok Kalyanswamy and CHRO Stig Christensen.
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.