Saxo Bank Taps Another Veteran of UBS
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The bank’s Swiss arm is enlisting the services of a 37-year veteran of Swiss heavyweight UBS.
Saxo Bank is adding Claudius Sutter to its board of directors, it said in an emailed statement on Wednesday. Sutter takes over for Tino Gaberthuel, who is not standing for reelection.
The move is noteworthy because Sutter spent 37 years at UBS’ private bank, including several helping develop Smartwealth, a digital wealth manager the Swiss bank launched in the U.K., then abandoned three years ago.
Saxo’s Swiss bank is overseen by Andreas Amschwand, also a veteran of UBS. The Swiss banker ran UBS’ foreign exchange operations for nearly 25 years, before leaving for a board seat at Julius Baer and later the chair of Seba, along with Sygnum one of Switzerland’s first crypto banks.
Questions & Answers
Q.Why is Claudius Sutter's appointment to Saxo Bank's board considered noteworthy?
Why is Claudius Sutter's appointment to Saxo Bank's board considered noteworthy?
His appointment is noteworthy because he spent 37 years at UBS' private bank. During his time there, he was involved in developing Smartwealth, a digital wealth manager that UBS launched in the U.K. Before discontinuing it three years ago.
Q.What is Claudius Sutter's new role at Saxo Bank?
What is Claudius Sutter's new role at Saxo Bank?
Claudius Sutter is joining Saxo Bank's board of directors. He will be taking over this position from Tino Gaberthuel, who has decided not to stand for re-election to the board.
Q.Who oversees Saxo's Swiss bank and what is their background?
Who oversees Saxo's Swiss bank and what is their background?
Saxo's Swiss bank is overseen by Andreas Amschwand, who is also a veteran of UBS. He managed UBS' foreign exchange operations for almost 25 years before moving to other roles, including a board seat at Julius Baer and chairing Seba.
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