Online brokerage Saxo Bank, which is majority owned by Chinese Geely Corp, is undertaking a strategic shift in its operations to focus its efforts more heavily on the Chinese market. The multi-asset brokerage has appointed Vivienne Yu as CEO of Greater China. She will be in charge of growing and developing the retail and wholesale business of Saxo Bank in a region that has become particularly important for the firm’s development after Li Shufu’s venture acquired a controlling stake in the firm last year.
The Greater China subsidiary of Saxo Bank is operated via offices in Hong Kong and Shanghai. Vivienne Yu will also be in charge of managing and developing relationships with key stakeholders and partners in China and Hong Kong. She will be leading the expansion effort in China from the Hong Kong office starting from March 15th, 2018.
Commenting on the appointment, Kim Fournais, founder and CEO of Saxo Bank, said: “Vivienne has an excellent track record with senior positions in the financial industry in China and Australia. With Vivienne’s knowledge and experience, we are confident that she is the person to lead Saxo Bank’s business in China to new heights and in line with our high ambitions for the region.”
“Saxo is extremely well positioned to grow and add value to clients and partners in the Greater China Area and I am excited to be joining the company during this momentous time,” she added.
Her appointment comes after years of experience in the financial industry in China and Australia. Mrs. Yu most recently served as CEO of China at Commonwealth Bank of Australia, leading the CBA China’s investment and proprietary banking business for the retail, SME and institutional client base.
Before that she also spent four years at Shanghai-listed Bank of Hangzhou as a Chief Executive for Retail and Business Banking. Mrs Yu served four years at the Australia Chamber of Commerce as a non-executive board director and ten years at Commonwealth Bank of Australia holding several senior level positions during her tenure.