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Screenshot of a breaking news alert e-mail from Q2 2017
LeapRate Exclusive… LeapRate has learned that Antonio Ferrante (pictured at left) has stepped down as CEO of Saxo Bank (Schweiz) AG, the Swiss arm of global retail forex broker Saxo Bank, amid some other management moves at Saxo Switzerland.
Dr. Patrick Hunger, current Head of Legal & Compliance and a member of the management board of Saxo Switzerland, has been appointed as Interim CEO. Before having joined Saxo Switzerland, Dr. Hunger 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 also worked 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, provided a statement:
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 appointing Raj Mehra as its new Chief Operating Officer. Mr. Mehra is currently Global Head of Processing & Biz Process Offshoring in Saxo Bank A/S. Saxo Bank is also moving over Neil Browning from the home office in Denmark to become Head of Commercial in Switzerland. Mr. Browning has been with Saxo Bank since 2002 in a variety of senior sales and client management roles. Together with the CFO Michael Voellm, Dr. Hunger and Messrs Mehra and Browning will constitute the new leadership team of Saxo Switzerland.
In other senior moves at Saxo Bank, earlier this month Antonio Savoca joined Saxo Bank 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.