Saxo Bank has made two changes to its board of management.
Søren Kyhl has been promoted to deputy CEO while he continues in his role as COO.
Damian Bunce has been appointed a member of the board of management with the new title of chief commercial officer.
The board of management now consists of CEO Kim Fournais; deputy CEO and COO Søren Kyhl; chief financial and risk officer, Steen Blaafalk and chief client officer, Damian Bunce.
According to Saxo Bank, the changes strengthen its leadership and accountability in the board of management in relation to clients, shareholders, the board of directors, regulators and employees.
Members of the board of management are appointed by the board of directors. The executive team will continue to be the global executive leadership team in Saxo Bank.
The board of management also consists of chief information officer, Ashok Kalyanswamy and chief human resources officer, Stig Christensen.
Commenting on the board reshuffle, Fournais said: “I am proud and satisfied that Søren Kyhl has been appointed deputy CEO and that Damian Bunce will join our board of management. The appointments reflect their excellent skills, knowledge, attitude, motivation and high importance to the bank and our future growth journey.”
He added: “Kyhl is a very natural and competent deputy CEO that I trust to run certain important strategic priorities. These changes will further strengthen and professionalise Saxo and I am proud to be leading such a unique team. I am more passionate and fired up than ever to ensure that Saxo will prevail and become the fastest growing financial institution within traders, investors and wholesale partners.”
“This is therefore not a retirement plan for me but an upgrade of our leadership capabilities, better supporting our fiduciary duties as well as creating a natural deputy function for me and Saxo going forward.”
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