Morten Fillipsen can consider himself a key member of Saxo Bank’s operations, particularly when considering expanding the Danish company’s reach internationally.
After a 6 year tenure as Saxo Bank’s Head of Private Business, Mr. Fillipsen this week assumes his new position as Head of China Region, based at Saxo Bank’s Shanghai facility.
Return To The Orient
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Mr. Fillipsen’s appointment involves a relocation from Saxo Bank’s home town of Copenhagen to China’s financial metropolis of Shanghai, strengthening the notion that Saxo Bank is once again concentrating on Far-Eastern business.
Just one year ago, Saxo Bank shed approximately 250 employees as part of the internal consolidation which involved the closure of the company’s retail brand forextrading, which along with an office in Israel, had operations in Hong Kong.
In congruence with Mr. Fillipsen’s assertion at that time, the company has considered the importance of aligning itself closer to Saxo Bank and offer an alternative to the traders who don’t need the full suite of professional tools offered by Saxo Bank.
With Saxo Capital Markets HK having retained its presence in the Asia-Pacific region, and having embarked on high profile methods of raising corporate awareness in the region, as depicted by Forex Magnates’ sighting of Saxo Capital Markets liveried taxi in Hong Kong this summer, Mr. Fillipsen’s move to Shanghai demonstrates the company’s direction of retaining a unified presence in what has become a vital geographical location for many FX firms worldwide.