Saxo Bank promotes Dr Patrick Hunger to CEO of Swiss operations

Saxo Bank’s Swiss CEO Antonio Ferrante has stepped down, with former Credit Suisse General Counsel Dr Patrick Hunger having been appointed Interim CEO as a promotion from his previous position as Head of Legal and Compliance

Saxo Bank (Schweiz) AG, the Swiss division of Saxo Bank today announced that Antonio Ferrante steps down as Chief Executive Officer of Saxo Switzerland, after having led the offices in Zurich and Geneva since January 2015.

Dr. Patrick Hunger, current Head of Legal & Compliance and member of the management board of Saxo Switzerland, has been appointed as Interim CEO. Patrick brings significant expertise and leadership qualities.

Before having joined Saxo Switzerland, Patrick was at Credit Suisse Trust where he held various positions, eventually as General Counsel and member of the executive management board. Prior to this, he had a strong track record working at UBS Investment Bank and the Swiss National Bank.

Steen Blaafalk, Chairman of the Board of Directors at Saxo Switzerland and member of the Board of Management in Saxo Bank A/S, said:

“We want to thank Antonio Ferrante for his time at Saxo Switzerland and wish him the very best for the future. Patrick Hunger has strong competencies within the financial sector as a whole and in depth knowledge about Saxo Bank’s unique business and role as a facilitator. Together with the new Leadership Team Patrick will ensure the continuation of the positive development in terms of product offering and profitability since Q2-2015 into this year.”

Simultaneously Saxo Switzerland is pleased to announce Raj Mehra as its new Chief Operating Officer. Raj is currently Global Head of Processing & Biz Process Offshoring in Saxo Bank A/S, and will ensure efficient operations in Switzerland. To strengthen the commercial leadership in the Swiss market further, Neil Browning has accepted the role of Head of Commercial in Switzerland. Having been with Saxo Bank A/S since 2002 Neil has a commercial skill set which will accelerate growth in the region. Together with the CFO Michael Voellm; Patrick, Raj and Neil will constitute the new leadership team of Saxo Switzerland.

Earlier this month Antonio Savoca joined Saxo Bank AG as Head of Sales Trading after having served as Executive Director in UBS.

Switzerland has always been and remains a key priority market in the Saxo group. Today Saxo Bank has offices in Zürich and Geneva.

Read this next

Executive Moves

CMC Markets taps Finalto’s Julia Free to head UK compliance

CMC Markets PLC (LSE:CMCX) has onboarded Julia Free as its newest head of UK compliance as part of a broader organizational reshuffling at the UK’s biggest spread better.

Digital Assets

Ankr successfully patches hack, will reimburse victims and take actions to prevent further attacks

DeFi protocol Ankr plans to reimburse its affected users after a hacker managed to exploit a bug in its code that allowed for unlimited minting of its liquid staking token.

Industry News

ASIC cancels/suspends AFS license of AFSL Group and Quantum Funds Management

ASIC canceled the AFS license of AFSL Group because it failed to lodge statements and audit reports and it did not maintain AFCA membership. The Australian regulator suspended Quantum because it does not have the required professional indemnity insurance coverage.

Executive Moves

BidX Markets hires Shaun French as Research Analyst – Multi Asset

“We believe with his background in the Financial Markets and being based in Dubai, he will be able to provide our clients with access to outstanding research, while also being in a great location to help support our international clients base which is growing at a rapid pace’’.

Institutional FX

Nasdaq migrates US options exchange to AWS with +10% performance in round-trip latency

Nasdaq has announced the successful migration of the core trading system of Nasdaq MRX – one of its six U.S. options exchanges – to Amazon Web Services (AWS).

Institutional FX

TraditionData launches oil swaps pricing data at a critical time in OTC oil traded markets

TraditionDATA has announced the release of a new proprietary Oil Swap Model (OSM) which brings further visibility into illiquid and opaque oil markets.

Technology

TNS connects to Tel Aviv Stock Exchange (TASE) as market data vendor

“This latest exchange connection allows TNS to provide access to approved recipients, including exchange members and market data vendors. This project includes market data for TASE’s equities and increases the number of market data feeds we now offer globally.”

Executive Moves

Cowen Digital taps ex-Blockchain.com Taylor S. Cable to lead Europe and Asia operation

“Cowen Digital is a pioneer in delivering institutional grade access to the digital asset ecosystem and I am very excited to join the team at this pivotal time to grow our presence in Europe and Asia.”

Industry News

ASIC sues American Express Australia for lack of TMD on credit cards

“ASIC has now taken multiple actions under the design and distribution regime, including issuing over 20 interim stop orders. This regime turned a new page in the regulation of financial products in Australia and is intended to deliver better outcomes for consumers. It is a priority for ASIC to maximize these increased protections and see the long-term benefits of the DDO regime realized.”

<