Today, multi-asset investment specialist Saxo Bank announced the appointment of John Carmichael as Chief Risk and Compliance Officer and a member of the Board and Executive Team.
This key appointment is in line with Saxo Bank’s ongoing commitment to further strengthen its governance structures, risk management and compliance following its designation as a Systemically Important Financial Institution (SIFI), as the bank now serves more than 1 million clients and holds over DKK 750 billion in client assets.
John Carmichael, who previously served as Head of Internal Audit, brings extensive experience and a deep understanding of the bank’s operations and his leadership will be instrumental in further strengthening Saxo Bank’s risk and compliance.
Kim Fournais, Founder and CEO of Saxo Bank, commented:
“John’s expertise and proven track record make him the ideal leader to guide our risk and compliance functions through this new chapter of our growth. As a SIFI, our commitment to operational excellence, prudent risk management and compliance is more vital than ever. John’s role on the executive team and board will be instrumental, where his deep understanding of our business and strong audit and compliance experience make him highly qualified to drive further improvements in our risk and compliance .”
John Carmichael said:
“I am honored to take on this responsibility at such a critical time for Saxo Bank. Working with our highly skilled teams to continuously develop and strengthen our risk and compliance infrastructure is key to our strategy, especially as we continue to grow our business internationally. I am committed to ensuring that Saxo Bank remains at the forefront of risk management and regulatory compliance, protecting our clients’ interests and maintaining the highest standards of operational integrity.”
According to these leadership improvements,
- Karina Hansen, formerly Deputy Chief Compliance Officer, has been promoted to Chief Compliance Officer, reporting directly to John Carmichael
- Rasmus Bauer, who was recently promoted to the role of Chief Risk Officer, will also report directly to John Carmichael
- Nina Senstius, formerly Deputy Head of Internal Audit, has been promoted to the position of Head of Internal Audit, reporting to the Board of Directors.
The appointments are subject to the necessary regulatory approvals.
As a result, Michael Carlsen, Chief Compliance Officer will leave the bank.