Danish online investment bank Saxo has appointed former Patsystems CEO Kevin Ashby as head of its new Asia Pacific subsidiary in Singapore.
Ashby has been named chairman and CEO of the bank's Asia Pacific subsidiary, Saxo Capital Markets.
Ashby stepped down as CEO of London derivatives trading software vendor Patsystems at the end of March this year.
He joined Patsystems in August 2002 from Wise, an e-commerce platform for the insurance markets, where he had been chief executive. Ashby has also been an IT partner for KPMG and the director of IT at TDG.
Commenting on his new role, Ashby says: "Over the past few years, I have become increasingly convinced that trading is becoming borderless, both geographically and from an asset class perspective."
Saxo says the Asia Pacific region already accounts for some 30% of its new business and it is making a significant investment in the region.
Last year Saxo recruited Peter Klein, former head of Commonwealth Bank of Australia's e-FX sales division in Europe, to head its new office in London.