Investor TPG Capital takes a more active board role.
Saxo Bank makes changes at the top
Copenhagen-based Saxo Bank, one of the world’s largest retail FX firms (and a member of LeapRate’s Approved List of global Forex firms), announced yesterday that Dennis Malamatinas, currently its Deputy Chairman and former global head of Smirnoff Vodka, Burger King Corporation and Priceline Europe, was appointed Saxo Bank’s new Chairman of the Board. Malamatinas replaces Kurt Larsen, Chairman since 2010. Larsen was the longtime CEO of international transport group DSV, and will remain on the Saxo Bank board.
No changes have been made to Saxo Bank’s management team, which continues to be headed by co-founders and co-CEOs Kim Fournais and Lars Seier Christensen.
Private equity investor TPG Capital, which last year acquired 30% of Saxo Bank for $560 million, now has two members (plus one alternate) on Saxo Bank’s five-person board, with TPG’s Asiff Hirji appointed to Deputy Chairman.
For more on the global Forex industry see the LeapRate-Dow Jones Forex Industry Report.
David Hobart
David Hobart is Managing Director of FinAffiliates Limited, the UK media group behind LeapRate, AskTraders and a network of more than 30 financial and trading titles published across several languages and regulated markets. He writes on the commercial side of the industry: broker marketing, client acquisition, affiliate strategy and the editorial standards that hold it together. He is based in North Norfolk.
