Saxo Bank executive Casper Andreas Solbakken is stepping down after more than 20 years at the company.

The departure comes shortly after ownership changes at Saxo Bank. Earlier this month, J. Safra Sarasin Group completed its acquisition of a majority stake in the Danish trading platform and installed Daniel Belfer as chief executive.

Saxo Executive Solbakken Steps Down

Solbakken announced his departure in a LinkedIn post on Monday. He wrote that “after 20 incredible years at Saxo Bank, the time has come for me to start a new chapter.”

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He said his time at the company “shaped me profoundly,” adding that it strengthened his leadership and broadened his perspective. He also said the experience reinforced his belief in “disciplined execution Execution Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Read this Term, strategic clarity, and strong collaboration across teams and functions.”

Solbakken most recently served as Global Head of Commercial Offering & Experience at Saxo Bank. He assumed the role in May 2024.

Before that, he held several senior leadership roles at the company. He served for around 10 months as Global Head of Products, Pricing and Platforms, and for almost two years as Global Head of Products and Services.

From Student Assistant to Executive: Exits

His earlier roles at Saxo Bank included Head of Equities for over two years. Prior to that, he worked for about 10 months as a Product Specialist for equities. Solbakken joined Saxo Bank as a quantitative trader and remained in the role for more than a decade.

Before becoming a trader, he worked for over two years as a student assistant in the equities Equities Equities can be characterized as stocks or shares in a company that investors can buy or sell. When you buy a stock, you are in essence buying an equity, becoming a partial owner of shares in a specific company or fund.However, equities do not pay a fixed interest rate, and as such are not considered guaranteed income. As such, equity markets are often associated with risk.When a company issues bonds, it’s taking loans from buyers. When a company offers shares, on the other hand, it’s selling pa Equities can be characterized as stocks or shares in a company that investors can buy or sell. When you buy a stock, you are in essence buying an equity, becoming a partial owner of shares in a specific company or fund.However, equities do not pay a fixed interest rate, and as such are not considered guaranteed income. As such, equity markets are often associated with risk.When a company issues bonds, it’s taking loans from buyers. When a company offers shares, on the other hand, it’s selling pa Read this Term and derivatives division. Prior to joining Saxo Bank, he worked for just over two years as a student assistant at Nykredit.

Ownership Deal Completes After Yearlong Approval

As Saxo Bank is now part of a new ownership structure, the combined entity will oversee more than $460 billion in client assets. J. Safra Sarasin manages over $460 billion and has around 5,000 employees across more than 35 locations.

Its parent, the J. Safra Group, controls $590 billion in assets and operates in over 230 locations globally. The deal, approved by FINMA and Denmark’s FSA, took about a year to complete.