Exclusive FNG… FNG has learned that Charles White-Thomson has resigned as CEO of Saxo Bank UK and left the company.
He has also stepped down from the Board of Saxo Capital Markets UK Ltd, the officially regulated FCA entity that manages the Saxo Bank brand in the UK.
Replacing Charles White-Thomson as CEO of Saxo UK, at least on an interim basis, is Simon Camilleri. Simon joined the company in 2022 as Chief Operating Officer (COO) after an 18-year career at BofA Merrill Lynch, as was also exclusively reported at the time here at FNG. We understand that Saxo UK has launched a search for a permanent CEO.
Charles White-Thomson joined Saxo UK as a non-executive director in 2019, becoming Chairman of the board in early 2020 and then CEO later that year. Prior to Saxo, he spent 18 years with Credit Suisse, as Managing Director responsible for European Equity Management, as well as Head of Cash Equity Sales outside London for the Swiss bank.
Saxo Bank gave the following statement to FNG:
Following the announcement that Charles White-Thomson has decided to step down as CEO of Saxo UK at the end of January 2024, we have now identified an interim employee. Simon Camilleri, who currently serves as Chief Operating Officer (COO) and local head of mission control at Saxo UK, will take on the role of interim CEO for Saxo UK while we search for a permanent CEO.
Since joining Saxo in November 2022, Simon Camilleri has played a key role in driving operational excellence, driving growth at Saxo UK and now leading the Local Mission Control team in the office. With nearly 25 years of experience in the financial industry, Simon brings a wealth of expertise and a deep understanding of our organization.
Prior to joining Saxo, Simon spent over 17 years at Bank of America, where he held positions as Head of Global Markets Operational Risk and later as COO of the Global Rates Sales and Trading desk. These roles have provided him with invaluable insights and operational expertise that significantly contribute to his capabilities at Saxo.
Charles White-Thompson posted the following note about his retirement on social media.
Hello everyone, I have some news to share with you. After an enjoyable and action-packed 5 years, I have decided to step down as CEO and leave Saxo to pursue the next chapter of my life. I would like to thank Saxo for the important opportunity and give a special shout out to the excellent UK office. It’s been a pleasure working with such great people and inspiring clients, while gaining a deep understanding of a 30-year-old financial technology business and all the moving parts behind a large, complex and highly regulated retail franchise.
The experience also encouraged me to find my public voice and pen and the courage to be as direct and honest as possible with my views and thoughts. I’m grateful for all the great media, publications and people I’ve worked with and the exciting conversations around some of the most pressing issues and topics we face.
This decision was not easy, but as I like to say – “life is not a dress rehearsal” and I look forward to the next one.