Saxo Markets Hong Kong Announces the Appointment of Richard Douglas as CEO

Saxo Markets, a subsidiary of Saxo Bank and a leading online trading, fintech and regtech specialist, announced that Richard Douglas has been named as CEO for Saxo Markets in Hong Kong. Besides, Fan Xu, CEO of Greater China, will move into the position of CEO at Saxo FinTech, a joint venture between Saxo and Geely, its majority shareholder.

In his new role based in Hong Kong, Douglas will be in charge of both Saxo’s Hong Kong and Shanghai offices, leading the overall business development and strategy of the bank’s commercial activities and further growing the Saxo brand in both markets. He will report to Adam Reynolds, Asia Pacific CEO, Saxo Markets.

With over 18 years of experience in the financial services industry, Douglas is a technology leader with a proven track record of successful delivery. He has been with Saxo for 4 years. Before this appointment, he served as Chief Operating Officer & Chief Information Officer, Greater China. Prior to Saxo, his multiple positions include Division Director, Global COO at Macquarie, Vice President, Global Program Director at Nomura, Vice President, Program Manager at Citi Bank, and Business Analyst at UBS, etc.

Kim Fournais, CEO and Founder, Saxo Bank, commented: “We believe that scaling and growing our Hong Kong business is critical to achieving our broader ambitions in the region, including building a strong partnership business. Douglas has been an instrumental part of our Group Technology leadership team before, when he was based in Copenhagen. With his experience in the region and robust understanding of the business both on the technology and the commercial front, we are pleased to appoint him as CEO for Hong Kong and look forward to growing the business.”

“I am very honored to take on this appointment. Saxo is on an exciting journey of transformation globally, and in Hong Kong we have a huge opportunity to become more relevant for more people, through our expanded offerings for investors and continued commitment to improving the client experience. As China’s economy and capital markets continue to open up, Saxo is uniquely positioned to continue to connect our clients to global capital market opportunities through the trading and investment opportunities available on our platforms. I look forward to continue to build on the strong foundation set by Fan and the team,” Douglas said.