SAXO Bank, the Copenhagen based multi-asset broker has announced appointment of Vivienne Yu, as the CEO of Greater China division. This is a part of a strategic shift in its operation, in which the company is focusing and putting more efforts in scaling its Chinese operations. Recently Geely Group, owned by Chinese billionaire Li Shufu acquired the controlling stake of SAXO Bank from one of its co-founders, in which it acquired 25.71 percent stake from Lars Seier Christiansen with certain minority shareholders exercising the tag-along rights to bring up the stake sale to 30 percent.
Mrs Vivienne will be responsible for growing and developing the retail and institutional business segment of the company in the region. This will include expansion, driving strategic business growth in the Greater China region including offices in Hong Kong and Shanghai. Additionally, she will also manage and develop relationships with key stakeholder and partners in the region. The development of Chinese operations has been in the top priority for the company’s future development programme since Li Shufu acquired the controlling stake in last year.
Mrs Viviene will be based out in SAXO Bank’s Hong Kong office and will assume her role from March 15th, 2018.
Mrs Vivienne comes along with a vast experience and knowledge of Chinese and Australian markets and has recently served as CEO of China at Commonwealth Bank of Australia where she was looking after CBA China’s investment and proprietary banking business for the retail, SME and institutional client base. Prior to this, she spent almost four years with Shanghai-listed Bank of Hangzhou as a Chief Executive for Retail and Business Banking. She was also on the Board of Australia Chamber of Commerce as a non-executive board director for four years and during her long 10 years tenure with Commonwealth Bank of Australia, she held various senior-level positions.
Commenting on the appointment, Kim Fournais, founder and CEO of Saxo Bank, said: “Vivienne has an excellent track record with senior positions in the financial industry in China and Australia. With Vivienne’s knowledge and experience, we are confident that she is the person to lead Saxo Bank’s business in China to new heights and in line with our high ambitions for the region.”
Mrs Vivienne issued a statement saying: “It’s exciting to join a company that has a huge growth potential and is keen to grow in the Greater China area. Saxo Bank’s technology and business model is truly unique and I look forward to the opportunity to build upon the current financial growth of the bank. As a fintech long before the term was created, Saxo is extremely well positioned to grow and add value to clients and partners in the Greater China Area and I am excited to be joining the company during this momentous time.”