Saxo Bank hires COO Soren Kyhl from Danske Bank – are we seeing Saxo’s succession plans?

We might just finally be seeing Saxo Bank’s CEO succession plan.

It is no industry secret that Saxo Bank Co-founders and Co-CEOs Kim Fournais and Lars Seier Christensen – who are about as hands-on as long-term founders can be – would like to take a step back at some point and bring in a new generation of younger management at Saxo.

And we likely saw the first step in that direction today.

saxobanklogobigGoing outside the organization, the Danish forex broker has created a new COO position and filled it with the hire of Soren Kyhl from Danske Bank. Kyhl will assume responsibility for daily operations and execution at Saxo Bank, including overseeing the bank’s digital experience, marketing, data science and Saxo Privatbank.

At Danske, Soren Kyhl was most recently Head of Transaction Banking and COO in the Corporates and Institutions division. During his 13-year career at Danske Bank Kyhl also served as co-Head and Global Head of Sales of Danske Markets and Global Head of Research, Quant and Business Development.

Kyhl will also be a member of Saxo Bank’s exclusive Management Board, alongside Fournais, Christensen and Steen Blaafalk, Group Chief Financial & Risk Officer.

Saxo Bank Co-founders and Co-CEOs Kim Fournais and Lars Seier Christensen had this to say about Kyhl’s hire:

The appointment of Søren Kyhl will significantly strengthen the organisation in terms of both digital and operational development and efficiency, which is the core focus of Saxo Bank’s business. With Søren Kyhl on board we have a strong team in place to support and deliver on our ambitions for continued growth. His unique expertise and experience will be invaluable as we continue the build out of our business in the digital age.

To see the full press release on Soren Kyhl’s hire as Saxo Bank COO click here.

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