The changes at Saxo Bank have begun.
Matteo Cassina
In the first major move made at the Copenhagen based multi asset broker since China’s Geely Group became the controlling shareholder in Saxo Bank earlier this month (pending regulatory approval), LeapRate has learned that Saxo has agreed to the departure of longtime UK office head Matteo Cassina.
Aside from acting as CEO of Saxo Capital Markets UK Ltd, the FCA licensed arm of Saxo, Mr. Cassina was also head of Global Sales for Saxo Bank.
For his UK office head role, Saxo Bank apparently has a replacement in mind, who will be formally brought on board early next year. In the interim, the company has Saxo UK COO Jeff Zorek as interim CEO.
For his Head of Global Sales role, the company has initiated a search for Mr. Cassina’s replacement.
Over the past year, Saxo Bank has closed its offices in Turkey and Cyprus, concentrating most of its European activity in its Copenhagen and London locations.
A Saxo Bank statement provided to LeapRate on the matter reads as follows:
We can confirm that Matteo Cassina is leaving his position with Saxo Bank.
We have initiated the search for his replacement as Head of Global Sales.
For the position as CEO of Saxo Capital Markets UK, a permanent replacement has been identified and will take on the role in 2018. In the meantime, Jeff Zorek will take on the role as interim CEO of Saxo Capital Markets UK.
We will communicate further details on this at a later stage.