Online trading and investment firm Saxo Markets has appointed Richard Douglas as chief executive officer for Hong Kong. Fan Xu, CEO of Greater China, will move into the role of CEO of Saxo FinTech, a joint venture between Saxo and Geely, its majority shareholder.
Before his latest appointment, Douglas held the role of chief operating officer and chief information officer for Greater China. In his new role as CEO, Douglas will take on responsibility for both Saxo’s Hong Kong and Shanghai offices, leading the overall business development and strategy of the bank’s commercial activities and further growing the Saxo brand in both markets.
Based in Hong Kong, Douglas will report to Adam Reynolds, Asia-Pacific CEO of Saxo Markets. Before moving to Denmark in 2017, Douglas was based in Hong Kong for six years and thus has a unique perspective and experience working in Asia.
Douglas’ professional experience of more than 18 years has been almost solely in the financial services industry, having previously worked at investment banks such as Macquarie, Nomura, Citi and UBS in London, Sydney and Hong Kong.
Patrick Chung will succeed Douglas as chief operating officer and chief information officer for Greater China, reporting to Ashok Kalyanswamy, chief information officer of Saxo Bank. He will be responsible for all technology staff, platforms and deliverables in the region.
As CEO of Saxo FinTech, Xu will continue to drive the growth of the joint venture, which is based in Chongqing, building products and services focused on trading technology, social technology and regulatory technology.