Saxo Markets, the licensed subsidiary of Saxo Bank, a fintech specialist that connects people to investment opportunities in global capital markets, has appointed Ken Shih, the Head of Wealth Management in Greater China.
The online trading and investment specialist announced Shih’s appointment on Tuesday, noting that the industry veteran will help to strengthen its digital wealth management service in the region.
Shih’s onboarding comes less than a month after the multi-asset trading services provider hired Redmond Wong in Hong Kong to reinforce its global investment strategy and generate research works focused on Hong Kong and mainland China.
“Shih, an 18-year industry veteran in the financial industry, previously held senior sales and strategy positions at HSBC, UBS, JPMorgan Chase and other top financial institutions in both the U.S. and Hong Kong,” Saxo Markets said in a statement.
Shih is joining Saxo Markets after spending three years as the Head of Sales and Marketing at Hong Kong-based fintech start-up, AQUMON.
At the digital wealth management startup owned by Magnum Research Limited, Shih “grew the client base substantially and lifted the brand significantly in the digital wealth management space.” He is expected to replicate the same at Saxo Markets.
To be based in Hong Kong, Shih is to report to Richard Douglas, the Chief Executive Officer of Saxo Markets in Hong Kong.
Speaking on the veteran’s appointment, Douglas said Shih “definitely brings the expertise and exceptional energy we’re looking for.”
“With his joining and the Type 4 and Type 9 licenses we obtained last October, Saxo is well-positioned and fully committed to the wealth management business which is an important piece in Saxo’s overall ambition,” Douglas said.
He added, “We aim to provide more comprehensive services to support clients achieving their financial aspirations through our multi-asset trading and investment offerings.”
Manish Prasad, the Head of Asset Management at Saxo Markets Asia Pacific, believes that Shih will play a key role as the service provider continues to grow in the region and improve its clients’ overall experiences along their investment journeys.
Prasad explained: “Saxo has strong ambitions to rapidly expand our business in Asia with Greater China playing a focal point in these plans. Saxo as a fintech pioneer, along with its award-winning platforms, can provide an alternative to traditional asset and wealth management for investors.
“The ideal digital wealth experience we’re looking to provide will delight investors with an attractive combination of great customer experience through simplicity, personalised investment solutions, engaging content and reasonable fees.”
Shih said he has accepted “this challenge head-on” and is looking forward to bringing immediate value to the team by helping the company’s clients achieve their wealth goals.
“I’m excited to take on this role and help Saxo accelerate its wealth management expansion in Greater China. Saxo is an excellent company with 30 years of experience pioneering in the fintech space,” Shih said.
“With a strong technology stack, talented individual firm-wide, a broad range of access to global markets and products, and a deep understanding of clients, I have no doubt we can deliver a top-notch digital wealth management service and experience for the investors,” he added.
Saxo’s Cabinet Shuffling
Since the beginning of the year, Saxo Markets has made at least three appointments, as reported by Finance Magnates.
In January, the Saxo subsidiary expanded its Board of Directors in the UK by appointing Nicholas Wilcock and Michael Ridley as Non-Executive Directors to onboard their extensive commercial, regulatory and operational experiences to drive the company’s expansion.
The subsidiary followed up Wilcock and Ridley’s appointments by naming Peter Morris, the former Managing Director, Global Brokerage Operations at BGC Partners, as its new Chief Operating Officer (COO).
