Saxo Bank Welcomes Back Vitali Butbaev as CEO of Central and Eastern Europe

Multi-asset brokerage, Saxo Bank has made its second senior appointment in as many days, this time seeing Vitali Butbaev rejoin the group as CEO of Central and Eastern Europe. Saxo Bank welcomes back Mr. Butbaev after over a decade with the group in a number of senior roles.

Mr. Butbaev had parted ways with Saxo Bank back in 2014, following thirteen years with the brokerage that dated back to 2001. Since then, he has worked at the Presidents Institute, while also founding Velstand Capital in 2017.

Having now rejoined Saxo Bank, Mr. Butbaev will be tapped as the group’s CEO of Central and Eastern Europe. In this capacity, he will be reporting to Damian Bunce, CCO of Saxo Bank. The role will see him spearhead an initiative to grow and expand Saxo’s business and client base in the CEE region.

Mr. Bunce, CCO commented on the appointment: “We are delighted to welcome Vitali back on board to grow and develop our business and client base in the CEE region. Vitali is an excellent senior hire with a wealth of experience and deep knowledge of the region. His leadership has been a big part of Saxo Bank’s success, and we are confident that he is the right person to lead our growth journey in the CEE region going forward.”

The region has grown important to Saxo Bank’s business, with Mr. Butbaev’s prior experience in the area being an asset. In addition, he will also be overseeing Saxo Bank’s strategic alignment and execution of global strategic priorities. Mr. Butbaev will officially join Saxo Bank on May 15, 2018, and will be based out of Saxo Bank’s Prague office.

During his thirteen years at Saxo Bank, Mr. Butbaev worked in a wide range of roles, starting initially as an Account Executive in 2001. The next decade saw him promoted multiple times, paving the way for his appointment as a Manager of Institutional Sales in 2003. He also worked as its Head of Institutional, EE.

The majority of his time at Saxo Bank was as its Senior Vice President and Head of the CEE region, managing a team of over seventy individuals and five offices. “I am very pleased to return to Saxo at a time when technology, Regulation Regulation Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Read this Term, and macro trends all play into Saxo’s core strengths. I had the pleasure of being part of the journey from the Bank’s more humble beginnings to an international fintech with clients in 170 countries,” explained Mr. Butbaev.

“Saxo is really a quite unique combination of cutting edge technology and good service from talented people. Saxo Bank’s core strength is delivering unparalleled access to global capital markets to traders and investors through market leading trading platforms. And by delivering ‘Banking-as-a-Service,’ Saxo has a strong offering to other banks and brokers that look to Leverage Leverage In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders Read this Term Saxo’s technology to service their end-clients,” he added.