Saxo Bank has promoted Tobias Straessle, its chief information officer, to chief operating officer. In an internal memo explaining the rationale for the change, Kim Fournais, Saxo’s joint chief executive, said that the bank is combining its operations and projects, and information technology departments under single global leadership.
Straessle joined Saxo in October 2006 after a 16-year career as a senior IT executive with UBS. He is a true pioneer of electronic trading, having also worked at Andersen Consulting (now Accenture), where he was instrumental in developing the technology used by first Soffex and then the DTB, which combined to form Eurex.