GAIN's Ben Smoker Joins Saxo Capital Markets as Australia CEO

The Denmark-based online brokerage and bank operator known by its Saxo Bank brand name, today had its Saxo Capital Markets division in Australia announce the appointment of Ben Smoker as the new CEO for its Australian business, according to a company press release. Mr. Smoker departs from GAIN Capital Australia, to take on the new role at the helm of Saxo's operations in Sydney.

In addition, Nik Kritikos was appointed as the new local Head of Saxo’s institutional business in Australia, as part of the update as the company aims to bolster its local leadership in the country. Finance Magnates had written about another senior switch in the industry in Australia earlier in the first quarter in an related post.

The company’s regional CEO, Adam Reynolds of Saxo Capital Markets Asia-Pacific (APAC) Asia-Pacific (APAC) The Asia-Pacific (APAC) region is one of the fastest growing in terms of population. This region in particular is of great importance to the financial services industry, as it is seen as the largest growth market for clients.APAC is comprised of diverse currency markets that are shaped by various and, at times, competing forces, from global regulation to local capital controls.The region has been seen as one of the hardest to enter by FX brokers for this reason, as well as grappling cultural or The Asia-Pacific (APAC) region is one of the fastest growing in terms of population. This region in particular is of great importance to the financial services industry, as it is seen as the largest growth market for clients.APAC is comprised of diverse currency markets that are shaped by various and, at times, competing forces, from global regulation to local capital controls.The region has been seen as one of the hardest to enter by FX brokers for this reason, as well as grappling cultural or Read this Term), commented that the new appointments mirror the group’s global strategy to grow its product suite for institutional clients, including prime-brokerage (PB) and related White Labels White Labels White Labeling or white labels are an extremely common practice in the forex market, which implies one buying another firm’s product and then marketing it as its own. This is routinely done in the retail space, as white labeling is helpful in utilizing trading software, platforms, and other additional services that brokerages may offer.What Are the Benefits of White Labels?White labeling is very popular in the forex market given the benefits it bestows to all parties. This includes both the buye White Labeling or white labels are an extremely common practice in the forex market, which implies one buying another firm’s product and then marketing it as its own. This is routinely done in the retail space, as white labeling is helpful in utilizing trading software, platforms, and other additional services that brokerages may offer.What Are the Benefits of White Labels?White labeling is very popular in the forex market given the benefits it bestows to all parties. This includes both the buye Read this Term.

Institutional in focus

He said: 
“Our main goal in the institutional space is to facilitate and grow existing partner relationships and to enhance our position as a leading Fintech innovator and enabler of new business in this dynamic market. Ben and Nik’s leadership and experience will no doubt resonate with clients and further strengthen the local institutional business, as well as our well established private client offer.”

Mr. Reynolds further commented in the press release: “The needs of institutional clients are constantly evolving, and Fintech disruption is impacting the financial services industry at a rapid pace. Saxo is well placed to support a variety of institutional market segments including both the disrupters and the disrupted in this evolving environment, including retail banks, brokers, advisers and the growing realm of local asset managers in Australia,”

Departs GAIN Capital Australia

Mr. Smoker brings over two decades of experience in financial services and was previously country head of GAIN Capital Australia from November 2012 to the present - as per a related LinkedIn profile, and had a number of prior roles including as Head of Sales Trading for Equity Derivatives and Structured Products at Royal Bank of Scotland (RBS).

Mr. Kritikos was previously an Executive Director of Global Cash Equities for JP Morgan while working in Hong Kong, New York and Australia, and according to the update he will work closely with Mr. Smoker in driving the growth of the Australian operations while supporting the brand’s global institutional business.

He is listed as being in the new role since April of this year according to a LinkedIn profile description which also lists that he holds multiple securities licences across related jurisdictions where he held prior roles, and that he obtained a Bachelors of Business from the University of Sydney earlier in his career.