People moves: Saxo appoints new head of derivatives sales

Saxo Bank has hired Michael Schmeja as its global head of derivative sales. Schmeja, who was previously at Royal Bank of Scotland covering financial institutions in Switzerland, has been given the task of expanding Saxo’s direct options business, as well as that of its partners. Schmeja, who will be based in Copenhagen, has also worked at Deutsche, where he was head of FX and money markets for the bank’s private wealth management group, and at JPMorgan Chase, where he was responsible for FX spot, swaps, forwards and options in Germany and Austria.