Changes At The Top For Saxo Bank

Several leading financial services firms operating in the margin derivatives sector have made significant changes to their board and C-level staff as 2013 unfolds.

Saxo Bank joins the club as it announces key changes to its board membership. The Danish firm carried out an extraordinary general meeting on the 20th of December, as a result shareholders have given approval for Lone Fønss Schrøder to be appointed as new Vice Chairman of the board and Jacob Polny, former alternate member, to continue on as a full member of the Board of Directors.

Chairman of the Board, Dennis Malamatinas commented about the change in a media statement, "Saxo Bank welcomes Lone Fønss Schrøder and Jacob Polny to the Board of Directors. We will continue to focus on Saxo Bank's core business in order to be the most profitable and professional facilitator in the global capital markets."

The founders of Saxo Bank, Kim Fournais and Lars Seier Christensen, own through Fournais Holding A/S and Lars Seier Christensen Holding A/S 29.95 per cent of the Bank each. Leading investment firm TPG Capital owns 30 per cent.

Saxo Bank's board of directors will now comprise:

• Dennis Malamatinas, Chairman
• Lone Fønss Schrøder, Vice Chairman
• Professor Thomas Plenborg
• Karl I. Peterson, Partner at TPG Capital
• Jacob Polny, Principal at TPG Capital

Earlier this week, Leverate and GAIN Capital made changes at their senior management/ director level.