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 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.