Saxo Bank has named a new Chief Executive Officer (CEO) for its Greater China division, announcing this Monday that it has appointed Fan Xu to the role. Fan Xu is replacing Vivienne Yu, the previous CEO of Greater China, who is no longer working for the multi-asset broker, Saxo Bank confirmed to Finance Magnates.
Fan Xu will be based in Shanghai and will report directly to Kim Fournais, the founder and CEO of Saxo Bank. In his new role, Fan Xu will be responsible for shaping and delivering on Saxo Bank’s strategy for the region, the Danish broker said in a statement today.
Vivienne Yu leaves Saxo Bank
As the CEO of Greater China, Fan Xu is replacing Vivienne Yu, who was originally appointed as CEO of the region in March of 2018, as Finance Magnates reported. She had joined the broker after four years as the China CEO for Commonwealth Bank, an Australian multinational bank.
Fan Xu joins Saxo Bank with more than two decades worth of experience in the financial service markets. As part of his new role, he will manage and develop relationships with key stakeholders and partners in the region.
The main aim of this is to allow Saxo Bank to broaden its exposure in China and capitalize on opportunities in the region as China’s financial markets continue to open, the statement said.
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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…”
“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.”
Fan Xu brings extensive capital markets experience
During his career, Fan Xu has held a number of roles in the capital markets or related areas. This includes financial modelling, trading, risk management and multi-asset investment.
Most recently, he was employed at CITC Prudential Life Insurance in Beijing as the Chief Investment Officer. Fan Xu also spent a considerable amount of time at Citigroup in New York and China Everbright Bank in Beijing.
“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,” noted Fan Xu.
“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,” he added.