As the influx of a series of senior level new blood at Saxo Bank continues, the Danish multi asset broker has named Stig Tørnes as its newest Executive Director, helping complete a spectrum of changes the company has announced over the past 18 months.
Mr. Tørnes had been working with Danske Bank since 2007, and has over 20 years of experience in the industry. Before 2007, he served as First Vice President and head of Business Development in Realkredit Danmark, part of Danske Bank Group. Prior to this position he worked as Senior Economist, charged with responsibility for investor relations, implementation of financial regulation and product development including successful launch of interest only loans, capped floaters and floaters.
During his long tenure at Danske Bank, Mr. Tørnes laid the foundations for his own venture in the financial industry. He focused for several years on IT and business development, such as implementation of financial regulation as well as developing the operational platform in C&I to support the business strategy.
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Stig helped Danske Bank become the first Nordic clearing member of LCH. Additional achievements included the launch of a complete suite of new post trade services as well as a new single dealer FX platform.
Mr. Tørnes had served in a number of senior roles at the Nordic bank, including most recently as its Senior Vice President. He also worked as head of Fixed Income Research in Danske Markets, tasked with providing coverage of Nordic and European covered bonds, as well as European agencies and government bonds.
Furthermore, Stig was a part-time teacher at the Department of Finance at Copenhagen Business School from 2001 to 2008.
The new senior appointment comes as the bank continues to grow and invest in its retail and institutional functions across several regions. Saxo has continued to attract top talent and has bolstered its global multi-asset trading credentials with a number of appointments from major financial institutions.
Most recently, the bank appointed a new head for its operations in Dubai and a head of institutional business development for the Middle East and North Africa, reflecting the region’s importance which the bank called a growth hub.