Saxo Bank Merges Sales and SXO Divisions, Taps New Chief Commercial Officer

Saxo Bank, the Copenhagen-based online trading and investment specialist, has announced the merger of its Global Sales and Saxo Experience Office (SXO) into a new entity named Group Commercial. The merger aims to improve collaboration, streamline operations, and enhance client-centric initiatives.

Leading Group Commercial will be the new Chief Commercial Officer, Stig Christensen. Christensen joined Saxo Bank as CHRO in January 2016 and later took on the role of Chief Sales Officer before this move. Camilla Dahl Hansen, Chief Saxo Experience Officer, has decided to leave the company after three years and is preparing to move to the next level in her career. Hansen revealed on her LinkedIn yesterday, "My next role should ideally be c-level within corporates, including finance, private equity, or as an advisor."

Kim Fournais, Founder and CEO at Saxo Bank, commented: "I would like to thank Camilla for her invaluable contributions to Saxo Bank over the past years. Her efforts have been crucial in delivering top-tier trading and investment experiences to our clients. I wish her all the best in her future endeavors. I am confident that under Stig Christensen's leadership, Group Commercial will drive our client experience to new heights as we now service more clients and partners than ever before in the history of Saxo. Stig's commitment to client satisfaction and innovative thinking will be instrumental in achieving our strategic goals."

Stig Christensen, Chief Commercial Officer at Saxo Bank, said: "Saxo now serves more clients and institutional partners than ever before, and we are setting our organization up to both service this growing client base and continue to grow our business as more people look to take control of their money and investments. This alignment will enhance our commercial priorities and build a stronger digital client experience. By simplifying our structure and empowering decision-making, we are poised to deliver even greater value to our clients."

Saxo Bank is a privately owned Danish company, with Geely Financials Denmark A/S, a subsidiary of Zhejiang Geely Holding Group Co., Ltd, owning 49.88% of the shares. Kim Fournais, the bank's Founder and CEO, owns 28.09% of the shares, and Sampo Plc, a leading Nordic financial services group, owns 19.83%. The remaining shares are held by minority shareholders, including current and former bank employees.

It is noteworthy that Sampo has decided to sell all its shares in Saxo Bank to Mandatum for EUR 302 million, with the transaction receiving final regulatory approvals on 3 May 2024.