Saxo Markets names Richard Douglas CEO for Hong Kong, Fan Xu to lead Fintech operation

Rick Steves

Saxo also announced a further executive move in Asia: Fan Xu, CEO of Greater China, will move into the role of CEO, Saxo FinTech, a joint venture between Saxo and Geely, its majority shareholder.

Saxo Markets has appointed Richard Douglas as CEO for the Hong Kong operation, reporting to Adam Reynolds, CEO for APAC, the firm announced.

In his new role as CEO, he will be responsible for both Saxo’s Hong Kong and Shanghai offices, leading the overall business development and strategy of the bank’s commercial activities and further grow the Saxo brand in both markets.

Before moving to Denmark in 2017, Mr. Douglas was based in Hong Kong for six years. His more than 18 years of experience has
been almost solely in the financial services industry. His career includes roles at Macquarie, Nomura, Citi, and UBS in London, Sydney, and Hong Kong.

Prior to taking the new role as CEO Hong Kong, Richard Douglas was the Chief Operating Officer and Chief Information
Officer for Greater China. Patrick Chung will succeed Mr. Douglas, reporting to Ashok Kalyanswamy, Chief Information Officer, Saxo Bank. He will be responsible for all technology staff, platforms, and deliverables in the region.

“I am very honored to take on this appointment. Saxo is on an exciting journey of transformation globally, and in Hong Kong we have a huge opportunity to become more relevant for more people, through our expanded offerings for investors and continued commitment to improving the client experience. As China’s economy and capital markets continue to open up, Saxo is uniquely positioned to continue to connect our clients to global capital market opportunities through the trading and investment opportunities available on our platforms”, said Richard Douglas.

Kim Fournais, CEO and Founder, Saxo Bank, said: “We believe that scaling and growing our Hong Kong business is critical to achieving our broader ambitions in the region, including building a strong partnership business. Richard has been an instrumental part of our Group
Technology leadership team before, when he was based in Copenhagen. With his experience in the region and robust understanding of the business both on the technology and the commercial front, we are pleased to appoint him as CEO for Hong Kong and look forward to
growing the business.”

Saxo also announced a further executive move in Asia: Fan Xu, CEO of Greater China, will move into the role of CEO, Saxo FinTech, a joint venture between Saxo and Geely, its majority shareholder.

As CEO of Saxo FinTech, Xu will continue to drive the growth of the JV, which is based in Chongqing, building products and services focused on trading technology, social technology and regulatory technology.

“Saxo FinTech is critical in driving the growth of Saxo in the region, as there is a lot of synergies and opportunities not just with Saxo but also with partners, and where we can provide our offerings as as Software-as-a-Service (SaaS). I look forward to advancing the Saxo FinTech business in collaboration with the team and with Richard,” Mr. Xu said.

“Saxo FinTech is a very important partnership for us and our majority shareholder, Geely, and with Fan fully dedicating his time to this joint venture, we are confident that Saxo FinTech will continue to grow strongly,” Kim Fournais added.

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