Lars Seier Christensen, co-CEO and co-founder of multi-asset investment and trading specialist Saxo Bank, today announced his intentions to step down from Saxo Bank’s management board. The move will be effective end of 2015.
Mr Christensen invested in the company in 1992 and became co-CEO in 1995. He holds a 26% stake in Saxo Bank. Following Mr Christensen’s stepping down from the board, Mr Kim Fournais will continue as sole CEO and will lead the day to day management.
From January 1, 2016, Saxo Bank’s Board of Management will consist of Kim Fournais, CEO; Steen Blaafalk, Group Chief Financial & Risk Officer; and Søren Kyhl who will join in a newly created role as Group Chief Operating Officer.
“Saxo Bank owes Lars Seier Christensen a huge tribute for his ground-breaking efforts over the past 20 years and we are very pleased that Lars will continue assisting us both as ambassador and substantial shareholder,” said Lone Fønss Schrøder, chairman of the Board of Directors of Saxo Bank.
Lars Seier Christensen said in a comment:
I am proud that Saxo Bank has a solid market position globally as one of the strongest facilitators of products and digital platforms within the financial sector. I had never imagined that I would stay on as CEO in the same company for 20 years, but it has been an amazing journey together with the skilled and talented employees in Saxo Bank.
“Saxo Bank is a mature company with a continued significant potential, there is consensus concerning the business strategy and a strong management team is in place. To step back into a different role has been a wish of mine for a considerable period and I believe now is the right time. I step down as co-CEO with a firm belief in future success for Saxo Bank, in which I also privately have an interest as a shareholder. I am fully confident that Kim Fournais together with the management team will take this bank to new highs.”
Kim Fournais said in a comment:
“Lars and I have had a strong partnership since we founded the company together in 1992 and we will continue the partnership as shareholders in Saxo Bank. There is full confidence in the growth strategy within the private and institutional segments and not least in developing the best technology to support our global multi-asset product offerings.
Saxo Bank has strengthened its capital base and added profiles with significant qualifications and expertise to both the Board of Directors and the Board of Management. We experience a growing interest in Saxo Bank’s business model and the long-term strategy of an IPO remains unchanged”.