Saxo UK Board Sees Further Changes Following Ownership Shift

Michael Ridley, a non-executive director at Saxo Capital Markets UK Limited, has resigned from the company's board, according to recent reports. This development follows closely on the heels of the departure of Saxo UK Chairman Richard Balarkas.

The changes at the UK arm of Copenhagen-based Saxo Bank come shortly after the announcement of the acquisition of Saxo Bank by J. Safra Sarasin Group​. In a related move, Saxo Bank has appointed Henrik Juel Villberg, its long-standing EVP Head of Group Markets & Treasury, to the board of Saxo UK.

Ridley, who joined the Saxo UK board in 2022, brings over four decades of experience in investment banking. His extensive career includes a 17-year tenure at J.P. Morgan Securities, where he held significant roles such as Vice Chairman, Investment Banking, and Global Head of Fixed Income Syndicate. He remains active in capital markets as an advisor and through industry associations.

Sources suggest that the recent ownership change is likely to trigger further management and board adjustments within Saxo Bank and its various subsidiaries in the coming period.