GCEX lures OANDA’s Michael Aagaard to head Denmark office

abdelaziz Fathi

GCEX, a digital asset and FX technology platform for institutional and professional clients, has appointed Michael Aagaard to the role of Managing Director of its office in Copenhagen.

Michael Aagaard

Aagaard lands at the FCA-regulated firm coming from FX brokerage firm OANDA. The Toronto-based broker lured the FX industry veteran to strengthen its budding crypto. During his short stint as a digital asset consultant, he played an active role in OANDA’s digital asset product development process, advising on overall strategy and develop connectivity to services providers within the cryptocurrency ecosystem.

Aagaard held a variety of executive positions during his 20 years with Saxo Bank. During this long tenure, he worked his way up through several senior roles with the firm, culminating with the position of Head of Foreign Exchange. In this role, Michael was responsible for development and strategy of the FX products (Spot, Forwards, Swaps, Options and Cryptos).

Aagaard joined Saxo Bank in 2002 in the role of business analyst, which was his first post-graduation position. There, the primary area of his responsibility was to take part of developing a new back office system to replace a legacy system, his Linkedin profile shows.

GCEX continues global expansion

After more than 5 years working in the back office area, he moved on to a front office position as a senior business analyst at FX market making unit.

Announcing the new hire, Lars Holst, Founder and CEO of GCEX commented: “This is a significant hire for GCEX. Michael brings extensive experience in FX and digital assets to our firm. Having worked previously with him at Saxo, I have every confidence that he is the ideal candidate to head up our operations in Denmark and play a major role in enabling us to achieve our ambitious growth plans.”

Michael Aagaard, Managing Director, GCEX, Denmark added: “I am very excited about joining Lars and his fantastic team. I have a huge amount of respect for how much they have achieved in such a short space of time. This is a great opportunity for me as I embark on the next stage of my career. I wanted to remain in the digital assets space but also be part of an organisation with an entrepreneurial spirit. GCEX ticks all the boxes and I am looking forward to contributing to the firm’s ongoing success and working closely with the GCEX team globally.”

GCEX (GC Exchange Limited) has four locations worldwide including Malaysia, Scotland, Denmark, and London, where it is headquartered. Its office in Copenhagen, which opened in September 2021, already has a team of six people.

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