Saxo Markets Appoints Hong Kong CEO

Copenhagen-headquartered Saxo Markets has internally promoted a new chief executive for Hong Kong.

Richard Douglas has been named Hong Kong CEO for Saxo Markets, effective immediately, according to a statement, reporting to APAC CEO Adam Reynolds.

Douglas was most recently chief operating officer and chief information officer for Greater China and the role will be succeeded by Patrick Chung who will be responsible for all tech staff, platforms, and deliverables in the region while reporting to Saxo Bank chief information officer Ashok Kalyanswamy.

Douglas has 18 years of experience, including six years in Hong Kong, having previously worked at the investment banking units of Macquarie, Nomura, Citi and UBS in London, Sydney, and Hong Kong.

As part of the reshuffle, Greater China CEO Fan Xu will shift to a new role of CEO for Chongqing-based Saxo FinTech, a joint venture with Chinese automobile giant and majority shareholder Geely.

China country head Echo Zhao will be leaving Saxo Group.

«We believe that scaling and growing our Hong Kong business is critical to achieving our broader ambitions in the region, including building a strong partnership business,» said Saxo Bank CEO and founder Kim Fournais.