Saxo Bank earmarks new office for London

Danish investment bank Saxo Bank has revealed that it plans to open a new office in London in the near future and that it has secured the services of Peter Klein, a former executive with Commonwealth Bank of Australia's European operation, to lead it.

Commenting on the decision to establish a presence in London, Saxo CEO Lars Seier Christensen said: The focus of the London office will be exclusively on the institutional market at this point in time. This particular market is transforming itself rapidly, opening up for completely new business models and industry players, and we strongly believe that we have a great opportunity to play a significant part of this exciting future. Furthermore, the London market represents the largest pool of qualified and experienced finance people in the world, and Saxo Bank believes that by establishing a presence there it will make it easier for the company to harness the local talent in order to expand its institutional sales and account management activities. Peter Klein will take the role of director in the new London branch. Mr Klein joins the company from Commonwealth Bank of Australia. Prior to this, Peter Klein worked eight years for EBS Dealing Resources, a leading institutional FX platform, where he held senior sales positions in Sweden, the UK, and Australia.