Lars Seier Christensen steps down from his board position at Saxo Bank

Not so many industry executives are as experienced or as long established as Saxo Bank’s Co-Founder and Co-CEO Lars Seier Christensen, who can credit himself with over 20 years at the cutting edge of one of the electronic trading industry’s most renowned and technologically advanced companies.

Today, Lars Seier Christensen has announced his decision to stand down from the board of management at Saxo Bank, leaving co-founder Kim Fournais to continue as the only CEO of the company.

Mr. Seier Christensen was instrumental to the oversight of many of the innovations that the FX industry has benefited from over recent years, and since investing in the company in 1992 was one of the pioneers of electronic trading.

He will continue as a shareholder of the company, holding a 26% share in Saxo Bank, however the management of the company will be the sole responsibility of Kim Fournais from this day forward.

As of January 1, 2016, the Board of management of the company will consist of, alongside CEO Kim Fournais, Steen Blafalk, Group Chief Financial and Risk Officer, and Søren Kyhl who joins the company as COO, which is a newly created senior executive position.

Lone Fønss Schrøder, chairman of the Board of Directors of Saxo Bank stated

Saxo Bank owes Lars Seier Christensen a huge tribute for his ground-breaking efforts over the past 20 years and we are very pleased that Lars will continue assisting us both as ambassador and substantial shareholder,” said Lone Fønss Schrøder, chairman of the Board of Directors of Saxo Bank.

Lars Seier Christensen said in a comment:

I am proud that Saxo Bank has a solid market position globally as one of the strongest facilitators of products and digital platforms within the financial sector. I had never imagined that I would stay on as CEO in the same company for 20 years, but it has been an amazing journey together with the skilled and talented employees in Saxo Bank

Saxo Bank is a mature company with a continued significant potential, there is consensus concerning the business strategy and a strong management team is in place. To step back into a different role has been a wish of mine for a considerable period and I believe now is the right time. I step down as co-CEO with a firm belief in future success for Saxo Bank, in which I also privately have an interest as a shareholder. I am fully confident that Kim Fournais together with the management team will take this bank to new highs.

FinanceFeeds most certainly understands the contribution that Mr. Seier Christensen made to this industry and recognizes that he can look back at the extremely high quality of his work with pride as Saxo Bank is an example to every company globally.

Featured Photograph: Andrew Saks-McLeod is addressed by Lars Seier Christensen at the launch of the SaxoTraderGo platform in Paris this year