SINGAPORE--(Marketwire - May 17, 2012) - Saxo Bank, the parent company of Saxo Capital Markets, announced the Bank's new Chairman of the Board after its board meeting yesterday. Dennis Malamatinas, currently Deputy Chairman of the Board, takes over from Kurt K. Larsen who has been Chairman since 2010.
Dennis Malamatinas became a member of the board of Saxo Bank, the online trading and investment specialist, in 2007. He has an MBA from the University of Chicago and has previously been the global head of Smirnoff Vodka, Burger King Corporation and Priceline Europe Ltd. In 2002, he co-founded Marfin Bank and later became CEO. More recently in 2007, he co-founded MIG (Marfin Investment Group), which he headed until 2012.
Kurt K. Larsen, CEO of the international transport group DSV for many years and currently the Group's chairman, remains a member of the board.
Kurt K. Larsen says:
"Saxo Bank already meets the Danish FSA's reasonable proposals for stricter requirements for boards of Danish financial companies, and it is to follow the spirit of the proposals that I have decided to step down as Chairman of Saxo Bank. My main strength in corporate governance has been organisational structure and operations not specific to banking operations, and therefore it is appropriate that Dennis Malamatinas with his broad and deep knowledge of the financial sector becomes chairman. I am glad to remain on the board of Saxo Bank, one of the most innovative and interesting companies I know of."
Asiff S. Hirji, Partner at TPG Capital, will assume the role of Deputy Chairman. TPG Capital acquired 30 per cent of Saxo Bank in 2011. As previously announced, the founders of Saxo Bank, Kim Fournais and Lars Seier Christensen, still hold majority ownership of Saxo Bank. Fournais Holding A/S and Lars Seier Christensen Holding A/S own 29.95% of the Bank each.
Saxo Bank's board of directors will now comprise:
Dennis Malamatinas, Chairman
Asiff S. Hirji, Deputy Chairman and Partner at TPG Capital
Kurt K. Larsen, Chairman of the Board of DSV
Professor Thomas Plenborg
Karl I. Peterson, Partner at TPG Capital
Jacob Polny (alternate), Principal at TPG Capital
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New Chairman of Saxo Bank, Mr Dennis Malamatinas
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Current Chairman of Saxo Bank, Mr Kurt K. Larsen
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About Saxo Capital Markets
Established since 2006, Saxo Capital Markets Pte. Ltd. is a wholly-owned subsidiary of Saxo Bank A/S, the online trading and investment specialist. It serves as the Asia Pacific headquarters and holds a Capital Markets Services licence from the Monetary Authority of Singapore and a Commodity Broker licence from The International Enterprise Singapore.
Clients can trade Forex, CFDs, Stocks, Futures, Options and other derivatives via SaxoTrader, SaxoWebTrader, SaxoMobileTrader and SaxoTrader Apps on iPhone and Android devices, the leading multi-asset online trading platforms. Widely recognised for their performance and features, these platforms have consistently won some of the industry's most prestigious awards.
Saxo Capital Markets also offers award-winning white label solutions to a broad institutional client base.
Saxo Bank, parent company of Saxo Capital Markets, holds full banking licences in Denmark, France and Switzerland and are licensed by every local regulator where there is a physical office.
For more details, please visit www.saxomarkets.com.sg
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Saxo Capital Markets Pte Ltd
Mychelle Chen
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