Saxo Bank Hires Former Danish Bank Chief as Its Global Finance and Risk Operations Head

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Saxo Bank Hires Former Danish Bank Chief as Its Global Finance and Risk Operations Head
Saxo Bank Hires Former Danish Bank Chief as Its Global Finance and Risk Operations Head

Forex Head

When Thomas Borgen stepped in as CEO in Danish Bank last year, one of his first acts was to fire Steen Blaafolk who was then sitting in the position of Head of Group Treasury.
Now, the leading European forex and CFD brokerage Saxo Bank has chosen to pick the man up to the position where he will have ש better role to play than his previous outing at Danish Bank. Steen will be responsible for the bank’s finances, risk management and legal department.

Steen Blaafalk has an extensive 33 year experience. During his meaningful period Danish Bank, his job was to travel around and attract potential investors towards an Initial Public Offering. He holds an impressive track record for bringing profitable results to its previous company, and is known to be an impeccable expert in national and EU regulation.

“He has a lot of experience in capital markets. At the same time, he has been out doing road shows for investors lately. He knows – if you have to say – the whole game. But he can also ensure to supervise an organization effectively that now come under him,” says Saxo Bank’s cofounder Kim Fournais.

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According to Steen Blaafalk, he should just take some time to form his own impression on Saxo Bank, before he chose to say yes to the offer. “When I was approached first time,” said he, “I was not sure it was a good idea to me, but after knowing the company for the past one and a half to two months, I actually think that it’s a perfect match.”

The requirement for an IPO of Saxo Bank comes from the U.S. private equity fund TPG Capital. This fund was bought in 2011 and currently owns 30 shares of the Saxo Bank.
Steen Blaafalk will assume the new role of the Head of Finance and Risk Management official on 22nd April ’14.

To contact the reporter of the story: Jonathan Millet at john@forexminute.com