Saxo confirms Mads Dorf Petersen as Chief Financial Officer

Rick Steves

“Mads is an exceptional and positive person, a subject matter expert that is always curious to learn even more, and he is very well-liked and respected by his colleagues and team.”

Saxo Bank has announced the appointment of Mads Dorf Petersen as Chief Financial Officer (CFO) after having held the position since October on an interim basis after Mette Ingeman Pedersen left Saxo.

Prior to the departure of Mette Ingeman Pedersen, Mads Dorf Petersen served as Head of Commercial Finance at Saxo. The executive joined the bank in 2009 and has held a number of leadership roles within finance including Head of Business Planning and Analysis and Deputy Head of Group Finance.

Deep understanding of Saxo’s business model and strategy

Mads Dorf Petersen has become CFO after 13 years at Saxo, having developed a deep understanding of both the business model, the firm’s strategy, and the finance and legal area. These will be core to Saxo’s future growth journey, according to chief executive Kim Fournais.

Kim Fournais, CEO & Founder, commented: “On behalf of Saxo, I’m very happy to announce that Mads Dorf Petersen will continue in the role as CFO. Mads is an exceptional and positive person, a subject matter expert that is always curious to learn even more, and he is very well-liked and respected by his colleagues and team. His expertise and proven track record makes him the ideal person to lead our financial and legal operations and help us achieve our strategic goals.

Mads Dorf Petersen, CFO at Saxo Bank, commented: “I am excited and proud to take on this role, and not least continue the work with the many passionate and talented colleagues within the finance and legal area as well as the remaining great colleagues across the organisation. Saxo is serving more clients than ever before, and we look forward to welcoming many more over the coming years. The fact that Saxo is a prudent, regulated, and well-capitalised financial institution is one of the foundations of our success, and we remain fully committed to being ahead of the curve on these crucial areas as we continue to grow and further scale our business.”

Peak hawkishness in Q4, and what comes next?

A few months ago, Saxo published its Q4 2022 Quarterly Outlook for global markets: a gloomy take on what to expect in this trimester as we are fast approaching a breaking point, that we’ll arrive at due to the “peak hawkishness” from policymakers over the next quarter or so, the firm states.

The online trading platform’s analysts still hold the view first shared in early 2020 that inflation would be deep rooted and persistent, but are we set for peak hawkishness in Q4, and what comes next?

Read this next

Retail FX

Italian watchdog red flags Olympus Brokers, UnicoFX and Allfina Group

Italy’s Commissione Nazionale per le Società e la Borsa (CONSOB) has shut down new websites in an ongoing clampdown against firms it accuses of illegally promoting investment products in the country.

Retail FX

XTB revenues hits zł1.45 billion in 2022, Q4 earnings disappoint

Poland-based Forex and CFDs broker, XTB has reported its final results for Q4 of 2022 and the full fiscal year ending on December 31, 2022, showing one of its most successful corporate years.

Executive Moves

Lirunex Limited recruits Waleed Salah as head of MENA sales

Maldives-based brokerage firm Lirunex Limited has secured the services of Waleed Salah, who joined the company in the role of its head of sales for the MENA region.

Executive Moves

Trading 212 parts ways with co-founder Borislav Nedialkov

Trading 212 has a void to fill at its FCA-regulated business in London, following the departure of two key players, Raj Somal and Borislav Nedialkov.

Digital Assets

Binance acquires troubled crypto exchange GOPAX

Binance, the world’s largest digital asset trading platform, has reportedly acquired a majority stake in the troubled South Korea-based cryptocurrency exchange GOPAX.

Digital Assets

Kraken exits Middle East, closes UAE office

Digital currency exchange Kraken will close down its operations in Abu Dhabi, UAE and lay off the majority of its team focused on the Middle East and North Africa.

Industry News

CFTC comments on ION Cleared Derivatives issues after Russian-linked hack

“The ongoing issue is impacting some clearing members’ ability to provide the CFTC with timely and accurate data. As this incident unfolded, it became clear that the submission of data that is required by registrants will be delayed until the trading issues are resolved.”

Industry News

FCA took down 14 times more misleading ads in 2022 thanks to technology

The FCA has made significant improvements to the digital tools it uses to find problem firms and misleading adverts. These improvements have enabled it to work through a much larger number of cases compared with 2021.

Executive Moves

HKEX appoints ex-Goldman Sachs Matthew Cheong to lead platform’s focus on derivatives

“He has worked for a number of the world’s leading investment banks and his experience will be invaluable to HKEX as we continue to enhance our derivatives product offerings and build on our innovative and robust platform business, connecting capital with opportunities.”