Saxo Bank has experienced a minor shakeup, with the group’s Non-Executive Chairman, Nick Beecroft, stepping down from his position to pursue other non-executive opportunities, Saxo Bank has confirmed to Finance Magnates.
Mr. Beecroft’s departure comes amidst Saxo Bank’s transition from an FX retail specialist to a broader focused Multi-Asset retail and institutional business. While at Saxo, Mr. Beecroft has worked in a variety of roles, over time developing into one of the most recognizable faces of the group. He frequently appeared in the media and has been a reliable figure in Bloomberg TV, CNBC, Reuters TV and BBC World, having spoken on a number of macroeconomic issues.
In his stead, Saxo Bank tapped Anthony Belchambers who has been appointed Non-Executive Chairman of the Board, effective immediately. Mr. Belchambers has served as a Non-Executive Director at Saxo Capital Markets Limited (SCML) since September 2014 – in his new role he will be helping steer and guide the business through a number of institutional initiatives.
Prior to Saxo, Mr. Belchambers founded FIA Europe, formerly known as the Futures & Options Association in 1992, while also serving as its Chief Executive until 2014 – despite his new role at Saxo, he will remain a special adviser to FIA Europe.
Saxo Bank made waves earlier this year, when in June it reported that it would terminate its offering of the MT4 platform and stop onboarding new clients. The decision was noteworthy given the group's launch of its landmark platform, SaxoTraderGo, which Saxo felt removed the need for a reliance on MT4.
