Saxo Bank Selects Mads Petersen as Interim CFO as Mette Pedersen Exits

Saxo Bank, a Denmark-based forex and CFD trading services provider, has appointed Mads Dorf Petersen as its interim Chief Financial Officer (CFO).

Petersen, who has been serving Saxo Bank for over 13 years, is stepping into the shoes of Mette Ingeman Pedersen who is leaving the brokerage after almost two years of serving as the Group Chief Financial Officer.

Until the appointment, Petersen was the Head of Commercial Finance at Saxo Bank. Previously, he was the Head of Strategic Finance.

The executive joined Saxo Bank in March 2009 as the Head of Business Planning and Analysis after leaving Copenhagen Airport.

Over the years, Petersen acted as the Vice President, Senior Vice President, Deputy Head of Group Finance, and later as an Executive Director.

Before he became the Head of Strategic Finance in December 2018, Petersen was the Chief Administrative Officer for Global Distribution and Sales and Client Services.

For over seven years, he served in various capacities with Copenhagen Airport including as the Chief Financial Executive between November 2007 and November 2008.

Speaking about Petersen’s appointment, Kim Fournais, the CEO and Founder of Saxo Bank, described the executive as a “strong leader.”

Fournais noted that Petersen will bring “a deep understanding of both the bank, our strategy and the finance and legal area” to the interim role.

The CEO thanked Mette “for her contribution to Saxo during the past year.”

“She has helped further develop Global Finance and Legal to become a stronger business partner and enabler of our strategy,” Fournais said about Mette.

Saxo Bank’s Market Performance

Finance Magnates reports that Saxo Bank with $444.4 billion in total trading volume in September 2022 reversed a three-month consecutive decline in its monthly volumes.

Trading volume in the month jumped 43% month-over-month, pushed by significant boosts in forex and equities trading.

On the contrary, Saxo Bank Group reported a 41% drop in its half-year 2022 net profit. The figure tanked to DKK 302 million from the previous year’s DKK 512 million.

Meanwhile, Saxo Bank recently disclosed plans to merge with the blank-check company, Disruptive Capital Acquisition Company Limited (DCAC), and be listed on Amsterdam Euronext.