Saxo Bank names Robert Spliid head, German region

Spliid brings with him a wealth of managerial experience from his previous position as Managing Director for IKB Deutsche Industriebank, Luxembourg. With the hire of this industry heavyweight, Saxo Bank underscores its commitment to the German market. In his former role with IKB Spliid grew the business several-fold, created and hired a strong derivates team, developed risk management models and established a quantitative analysis department.

"Robert Spliid brings to Saxo Bank 25 years of international experience within the financial industry. His in depth understanding of the German market, experience with building winning teams and strong track record will help Saxo Bank build an even greater presence in the German market" says Executive Director Torben Kaaber. "Germany is a key market for Saxo Bank and we see enormous potential for growth, both for our private client business and our highly successful partner business."

Prior to his job with IKB Deutsche Industriebank, Luxembourg, Spliid was treasurer for Bayerische Landebank in Luxembourg and treasurer with ABN Amro Deutschland in Frankfurt. His 25-year banking career has also included a post as CEO for Jyske Bank in Switzerland and a background in futures and derivatives trading for Koebenhavns Handelsbank. Spliid's appointment follows a record breaking year for Saxo Bank, which recently published its 2007 results revealing a 78 percent increase in profits, to €49 million before tax. The results follow the bank's strong, incremental growth over the last five years, with revenues growing by 50% year on year. The German market is key to Saxo Bank's success with soaring trading volumes from partners and institutions using SaxoTrader, but also from an increasing number of private investors.

"From positions in Frankfurt and Luxembourg I have been following Saxo Bank's successful development from being a small brokerage firm to become an industry leader within online trading," says Robert Spliid. "I noww feel fortunate to be given the opportunity to help grow the bank in the very dynamic German market. The German financial industry is very competitive and it is an environment where you constantly need to improve your offering to stay ahead of the game."

Spliid has a Masters in Economics from Copenhagen University. He is a frequent market commentator and the author of a popular book on private equity.