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Foreign Exchange

Saxo names new UK chairman

Saxo Capital Markets UK, the UK subsidiary of the Danish online FX broker, has appointed a market veteran to replace Albert Maasland as chairman of its board.

Nick Beecroft, who has more than 30 years’ experience in the FX business, has taken over as chair of Saxo’s UK unit. He will be responsible for the subsidiary’s performance and development in conjunction with chief executive Torben Kaaber. Beecroft has previously held senior positions at Standard Chartered, Deutsche Bank and Citi.

At Standard Chartered, he was global head of FX trading between 2003 and 2007, and held a similar role at Deutsche, where he worked between 1995 and 2003, and at Citi, where he worked between 1981 and 1995.

Beecroft, who was a member of the Bank of England’s foreign exchange joint standing committee, has been at Saxo in the UK since 2009, working as the firm’s senior markets analyst.

“The appointment of Nick Beecroft to the role of chairman of the board is important to us here in the UK,” says Kaaber.

“With Nick’s market knowledge and know-how, we can further develop the business and satisfy our clients. Nick demonstrates stability and experience, and in conjunction with me, Nick will continue to participate in our external relationships and fulfil our obligations as a member of the financial industry and the community.”

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