Voorhees assumes his new position on November 1.

An experienced trader, who for the past five years has managed his own financial portfolio, Edward Voorhees has worked for Commerzbank AG in London and Deutsche Bank in Frankfurt, London and New York. An American by birth, Voorhees earned his BA in Economics from University of Chicago.

"Ted is a very skilled trader and that is what we need in order to serve our growing client base with world class currency options business," says Charles-Henri Sabet. Sabet joined Saxo Bank's Senior Executive Management group following Saxo Bank's acquisition of Synthesis Bank which he founded. Sabet will head up all Saxo Bank's trading activities in the future with Edward Voorhees as Head of Options.

"Saxo Bank wants to be among the world leaders in the global FX options market. We already have a very strong global currency options team and with Ted as team leader, we are well on our way to reach our goal," says Charles-Henri Sabet.

"When offered this job by Charles and Saxo Bank's CEOs, Lars Seier Christensen and Kim Fournais, I did not hesitate," says Edward Voorhees. "Saxo Bank has the courage to take on change and the integrity that is required to build a strong organization. Combined with a strong electronic platform and extraordinary IT, sales, and trading teams this made my choice easy. I'm a firm believer in electronic platforms, foreign exchange, and derivatives as a key part of any investment portfolio. No wonder that I see the perfect opportunity for success today, and most importantly, in the future. I can't wait to get started". Edward Voorhees will also take the lead on some of the product offerings in Saxo Bank's pipeline such as Exotic Options.

Over the past 12 months, Saxo Bank has opened offices in London, Singapore and Marbella as well as a representative office in Beijing. As part of its global business strategy, the bank has several other foreign offices on the drawing board. Saxo Bank also operates an IT development center in St. Petersburg. It is building its new headquarters in Tuborg Harbour, on the outskirts of Copenhagen.