BinckBank COO Steven Clausing Departs after Saxo Bank Takeover

Steven Clausing is stepping down from his post as a member of the board and chief operating officer of Dutch online broker BinckBank, which was acquired by Saxo Bank over this summer.

BinckBank said it respects Clausing’s decision to leave the company, and confirms it was in connection with Saxo Bank’s offer. Since then, he has been working with BinckBank management to ensure a smooth and seamless transition until his departure next month.

“The tasks and responsibilities of Mr S.J. Clausing will for the time being be assigned to the other board members of BinckBank N.V. Mr.V. Germyns (CEO) and Mr. E.J.M. Kooistra (CFRO). BinckBank thanks Mr Clausing for the valuable dedication and commitment shown and wishes him all the best for the next step in his career," the company said in a statement.

Mr. Steven has served as COO and member of the executive board of BinckBank since 2015. He has originally joined the Dutch lender back in 2013 as head of Risk Management Risk Management One of the most common terms utilized by brokers, risk management refers to the practice of identifying potential risks in advance. Most commonly, this also involves the analysis of risk and the undertaking of precautionary steps to both mitigate and prevent for such risk.Such efforts are essential for brokers and venues in the finance industry, given the potential for fallout in the face of unforeseen events or crises. Given a more tightly regulated environment across nearly every asset class, One of the most common terms utilized by brokers, risk management refers to the practice of identifying potential risks in advance. Most commonly, this also involves the analysis of risk and the undertaking of precautionary steps to both mitigate and prevent for such risk.Such efforts are essential for brokers and venues in the finance industry, given the potential for fallout in the face of unforeseen events or crises. Given a more tightly regulated environment across nearly every asset class, Read this Term. During his term, he was tasked with IT and product management and also had a prominent role in various sub-committees of the executive and supervisory boards.

Saxo Bank completes takeover deal

Prior to BinckBank, he held several senior management positions in the areas of commerce, internal organization and audit and risk management at leading banks. Clausing started his career in the Royal Dutch Navy and then joined ABN AMRO Bank 1998 where he served in both commercial and internally focused posts. After a 10-year tenure with ABN, he moved to Royal Bank of Scotland in 2008.

Clausing is a graduate of the Eindhoven University of Technology also has masters in finance and internal auditing from Erasmus University, Rotterdam.

Saxo Bank announced earlier this month it has completed the acquisition of Dutch lender BinckBank and now owns nearly 98 percent in the online broker. BinckBank will be delisted from the Euronext Amsterdam as of September 26.

The two companies revealed they already started working on the integration of their technology infrastructure and plan to launch additional products and services to better compete in light of growing competing in the Online Trading Online Trading Online trading represents the trading of fiat currencies, digital currencies, commodities, stocks and indices, where traders and investors intend to make a profit, via the purchase or sale of the aforementioned products. This is done through an electronic network, made accessible by brokers in the form of an online trading platform or hub.Online trading continues to see a rapid growth year on year, due to a number of reasons. Firstly, the number of brokers offering their services, with more mone Online trading represents the trading of fiat currencies, digital currencies, commodities, stocks and indices, where traders and investors intend to make a profit, via the purchase or sale of the aforementioned products. This is done through an electronic network, made accessible by brokers in the form of an online trading platform or hub.Online trading continues to see a rapid growth year on year, due to a number of reasons. Firstly, the number of brokers offering their services, with more mone Read this Term and investment sector.

Saxo said that their similar geographic footprint, products and customer bases meant the merger made sense and would also drive efficiencies.