Saxo Bank’s Cyprus office, which is based in the financial capital Limassol, has been operational since 2012. Saxo Bank was the first western European CFD broker to establish a Cyprus office. The Cyprus office is headed by Vitali Boutbaev whose position is Senior Vice President, Head of CEE region at Saxo Bank A/S (according to Linkedin).
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Peter Leonidou joins the Saxo Bank Cyprus office with substantial experience in the FX and CFD markets. Details extracted from his Linkedin profile state that: “Peter Leonidou holds a BA in Marketing. He has over 13 years experience within the investment sector. He has spent almost the equal number of years within the US and within Europe, working for companies such as Trade Station Securities, Easy Forex, Head of Sales at Alpari Financial Services (CY) and Chief Sales Officer (CSO) at ForexTime (FXTM).”
The Cyprus office serves clients from Central Eastern Europe, various Balkan countries and Cyprus. There are approximately 40 people working in the office.
Mr Boutbaev commented about the opening of the banks office in a statement to the press: “Cyprus is an established and expanding place for financial services. Saxo Bank already has a significant number of institutional clients, white label clients and high-net worth individuals in the country, and by opening an office local to them, we are able to enhance the quality of the service on offer to meet their growing demands. We are keen to explore potential market growth in Cyprus and in Central and Eastern Europe which is emerging rapidly, and the new office will strengthen Saxo Bank’s overall position as a major player in online brokerage, both in Europe and internationally.”