SOURCE: Saxo Capital Markets

Saxo Capital Markets

May 17, 2012 00:38 ET

Saxo Bank A/S Announces New Chairman of the Board

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

Saxo Capital Markets Pte. Ltd. ("Saxo Capital Markets") is licensed as a Capital Market Services provider and an Exempt Financial Advisor, and is supervised by the Monetary Authority of Singapore.

You should carefully consider whether trading in leveraged products is appropriate for you in the light of your financial circumstances. You should be aware that dealing in products that are highly leveraged carry significantly greater risk than non-geared investments such as share trading. As such, you could both gain and lose large amounts of money. You may sustain losses in excess of the monies you initially deposit and also in excess of the margin required to establish and maintain any positions in leveraged products.

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New Chairman of Saxo Bank, Mr Dennis Malamatinas

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.

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