Steen Blaafalk Announces Retirement from Saxo Bank

Saxo Bank’s Chief Risk and Compliance Officer, Steen Blaafalk, has announced his retirement from “a long carrier within [the] banking and trading the past 42+ years.”

“I am grateful for all the learnings, opportunities, and experiences that I have been given and all the many great people I have worked with and teams I have been part of. It has been a life through decades of huge changes, which has impacted society and the life of many,” he wrote in a Linkedin post.

Blaafalk has been working with Saxo for the past nine years. He joined the Danish brokerage as the Chief Financial and Risk Officer. He is also sitting on the board of two Saxo Group, Saxo Bank Switzerland and Milan-based BG Saxo. Despite retirement, he will continue his directorship roles.

“It will not be a complete goodbye to Saxo Bank, as I will continue in some directorships of our subsidiaries, and I will always be an ambassador for this GREAT company,” he added. “I will also pursue the possibilities for other non-executive roles as well as advising – but more to come on this.”

Blaafalk’s entered the financial services industry with a role at Copenhagen-based Danske Bank in August 1980, according to his Linkedin profile, and then continued to work with the company for more than 33 years. He climbed the bank’s corporate ladder over the years – became the CEO of Danske Markets in September 2006 and held the position for years, and parted as the Head of Group Treasury in October 2013.

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Developments at Saxo

Meanwhile, Saxo Bank recently terminated its merger deal with a blank-check company that would have listed the multi-asset broker on an Amsterdem-based stock exchange. The purpose of the now-failed merger deal was to diversify its shareholder base, raise the company’s profile, and accelerate its growth strategies. However, the broker cited ‘timing’ for terminating the deal.

Saxo has been making some changes to its top management. Recently, it onboarded Simon Camilleri as the new COO of the UK subsidiary, while Mads Petersen has been named as the Interim CFO of the group.

This article was written by Arnab Shome at http://www.financemagnates.com.