Saxo Capital Markets UK Corporate Governance Revamped with Torben Kaaber's Departure

According to recent announcements, leadership of Saxo Bank owned trading and investment dedicated UK subsidiary Saxo Capital Markets UK Limited (SCML), has been changed. After being run as a branch of Saxo Bank A/S since March 2006, the subsidiary was launched on the 1st of January, 2012.

Saxo Bank appointed Torben Kaaber back in November 2011 to head its London branch and Saxo Capital Markets UK. According to Mr. Kaaber’s LinkedIn profile, he left his position as CEO of the London branch of Saxo Bank and SCML earlier this summer.

Succeeding Mr Kaaber at the helm of Saxo Capital Markets is Mateo Cassina, who previously held the position of Executive Vice President of the company since the beginning of this year. He previously held the position Member of the Supervisory Board of the Boerse Berlin AG and was President of Citadel Securities Europe Ltd.

Anthony Belchambers Joins as Non-Executive Director

In a separate move, Saxo Capital Markets UK issued a company statement announcing the appointment of industry veteran, Anthony Belchambers as a non-executive director. He is well-known around the industry for founding the Futures & Options Association which later became FIA Europe. He will remain on as a special adviser to FIA Europe.

Mr. Belchambers is also co-founder of the Advisory Group to the European Parliamentary Financial Services Forum and founder of the Associate Parliamentary Group on Wholesale Financial Markets and Services. He will continue to serve as deputy chairman of both organizations.

Chairman of Saxo Capital Markets UK Ltd., Nick Beecroft, stated in the company announcement, “We welcome Anthony to the board of SCML, where his extensive market and regulatory knowledge will be extremely valuable to our organisation at a time of unprecedented change in the industry."

He added ,“His experience and expertise in financial markets will be a tremendous resource to the board as we continue the build-out of our institutional business with London as a major centre of our operations."

Mr. Belchambers stated, “I am pleased to be joining SCML at a time when the bank is expanding its offering to institutional clients. More than ever before, financial institutions need flexible, sophisticated trading infrastructure and reliable post trade services to allow them to focus on their core businesses. I look forward to working with a company that is committed to responding to the needs of market participants through ongoing innovation.”

Kraken Kapital

After working at Saxo Bank for 16 years, former CEO of SCML, Torben Kaaber, joins forces with Tonny Anker-Svendsen as partners in a Copenhagen-based company named Kraken Kapital.

The new venture is an investment company, targeting opportunities in insurance and asset management. It will use its own as well as partner funds to look for acquiring both majority and minority stakes.