Saxo Bank Promotes John Carmichael to Chief Risk and Compliance Officer

Fazzaco learned that Saxo Bank, the Copenhagen-based online trading and investment specialist, has promoted John Carmichael to the position of Chief Risk and Compliance Officer, as a part of its strategy to reinforce governance structures, risk management, and compliance.

According to his LinkedIn profile, Carmichael joined the Danish bank in November 2007 and has served as Chief Audit Executive for over 16 years. Previously, he spent more than three years as Group Internal Audit Director at Maersk, an integrated transport and logistics company. His career began in September 1995 when he served as a manager at the international accounting firm PwC. He was later promoted to Senior Manager of Transaction Services in 1998 until he left the firm in August 2004.

Carmichael holds an MA in Geography from the University of Cambridge and is a Chartered Accountant (ACA) accredited by the Institute of Chartered Accountants in England and Wales (ICAEW).

Kim Fournais, Founder and CEO at Saxo Bank, commented: "John's expertise and proven track record make him the ideal leader to guide our risk and compliance functions in this new chapter of our growth. John's role in the Executive team and Board of Management will be instrumental, where his deep understanding of our business and his robust experience in audit and compliance make him highly qualified to drive further improvements in our risk and compliance."

Risk and compliance management are critical for all companies, especially for those with a pivotal position in the industry. Last June, Saxo Bank was officially designated as a Systemically Important Financial Institution (SIFI)​ by the Danish Financial Supervisory Authority (FSA) and will play an important role in ensuring the stability and proper functioning of the financial system.