SOURCE: Saxo Bank A/S

February 26, 2008 06:59 ET

New Executive Director to Strengthen Saxo Bank's Operations in Europe, the Middle East and the Americas

GENTOFTE, DENMARK--(Marketwire - February 26, 2008) -

COPENHAGEN Henrik Vad has been named to a new position as Executive Director, and Deputy Head for Saxo Bank's operations in Europe, the Middle East and the Americas.

Previously CEO of SkandiaBanken A/S, Henrik Vad will be reporting to Albert Maasland, Senior Executive Director and Regional Head. As head of Strategic Operations, Henrik Vad will be responsible for helping to drive and develop the business through innovation and streamlining product development, solidifying execution processes and enhancing cross geography coordination between Saxo Bank's expanding global operations.

With his extensive experience in internet banking and detailed knowledge of a wide range of products from his years at SkandiaBanken, one of Scandinavia's best known full service Internet banks, Henrik Vad has much to contribute to the continued growth of Saxo Bank, a global leader in online trading and investment services.

"With Henrik Vad on board, we have assembled a management team that is ready to take on the tasks and challenges we will be facing with executing our growth strategy over the next few years," says Albert Maasland. "An experienced banker, Henrik Vad has a proven track record and practical knowledge of our industry that will help us to continue to grow our business at high double digit growth rates for the coming years. He will be instrumental in ensuring effective execution of our strategy and guiding our younger talents towards achieving our growth objectives."

Understanding of the competitive environment in online trading and investment and ensuring a smooth execution process will, according to Maasland, be some of Henrik Vad's key responsibilities. With more than 20 years of experience in the industry and his track record of achievements in managing a wide variety of banking operations, Henrik Vad will play an important role in creating the necessary momentum and direction in Saxo Bank's future growth.

"I have closely followed Saxo Bank's impressive rise as a major player in the industry and been an admirer from the sidelines for years," says Henrik Vad. "I feel fortunate that I can now see things from the inside and make my own contribution to the further growth and success of a bank that has become a trailblazer and trendsetter for an entire industry."

Prior to his career in SkandiaBanken, Henrik Vad was CEO of Din Bank A/S and A Senior Vice President of Danske Bank A/S in charge of Domestic and International Equities Department and the Future and Options operation.

Media inquiries:

Kasper Elbjørn
Corporate Communications, Saxo Bank A/S
Tel: +45 30 65 43 00

About Saxo Bank A/S

Saxo Bank A/S is a global investment bank specializing in online investments in international Capital Markets. Saxo Bank enables clients to trade currencies, shares, CFDs, futures, options and other derivatives, as well as providing portfolio management via our online trading platform, SaxoTrader. SaxoTrader has been developed by Saxo Bank and is available to today's investor directly through Saxo Bank or through one of our global partnerships, where it forms an integral part of their infrastructure. One of Saxo Bank's significant areas of business is White Labelling. This involves the bank's online trading platform being customized and branded for other financial institutions and brokers. Saxo Bank has more than 100 White Label Partners and boasts thousands of clients in over 177 countries. The bank's website receives approximately 65,000 visitors every day. Saxo Bank currently employs almost 1,300 employees from 58 different countries.

Saxo Bank has its headquarters in Copenhagen, with offices in London, Geneva, Zürich, Singapore and Marbella. It also runs a representative office in Beijing and an IT development centre in St. Petersburg.

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