saxo bank

Steven Clausing Resigns as COO from Binck Bank Post Saxo Bank Takeover

Dutch headquartered stock brokerage and financial service provider Binck Bank made an announcement revealing that one of its key high level management executive is parting ways with the firm. According to statement released by the firm, Steven Clausing who has been a part of the firm for nearly 4 years now and served as Chief Operating Officer and board member is resigning from both his roles at the firm. The statement also revealed that Steven’s decision to part ways with Binck Bank has some connections to the firm’s acquisition by Danish investment banking specialist Saxo Bank. However, the statement didn’t reveal any further details on the official reason for Steven’s departure from the firm. For now Steven’s still remains a part of the firm and continues to hole both his official titles as he continues to work with higher echelons of the firm in helping ensure a smooth and seamless transition until the end of his tenure with the firm next month.

The firm has revealed in its statement that it respects Steven’s decision to resign from the company and thanks him for his valuable dedication and commitment to the firm’s development while also wishing him the best in his next step of career. However, neither the statement from the firm nor Steven’s LinkedIn profile contained any details on his next project. Steven joined the firm back in March 2013 as head of its risk management department and held the role for 2 years and 8 months post which he was promoted to role of Chief Operating Officer and also became a part of the firm’s executive board. At time of his departure from the firm next month, he will have served at the firm for a period of nearly six years and seven months. Steven started his career as an Internal Consultant for Royal Dutch Navy post which he joined ABN AMRO bank – the third largest bank in Netherlands. He joined the firm as an SME Account manager back in June 1999 and slowly climbed up the firm’s corporate ladder reaching all the way to role of Senior VP and Head of Audit Transaction Banking having been promoted for a total of four times during his 11 year long tenure at the firm. Steven then joined Royal Bank of Scotland’s London office as an Audit Partner but soon moved back to the bank’s office in Amsterdam.

He then took up the role of Risk Manager and served at the firm for total of three years before moving on to his current role at Binck Bank. Steven started his career with a masters degree in Industrial Engineering and Management Science but has since acquired a degree in Operational Auditing and a masters degree in Finance and Strategy while serving in ABN AMRO and RBS. It should be noted that the stockbroker is now owned by Saxo bank which holds a majority stake of 98% of the firm’s total shares post its acquisition deal and the firm is set to delist from Amsterdam’s Euronext as of September 26, 2019. Saxo bank has already started process of integrating the firm’s technology infrastructure with its own and plans to launch additional products and services to help improve its market standing and compete on even terms in light of growing competition in the online trading and investment sector. The statement has failed to reveal any details on who will succeed Steven’s role at the firm but it has mentioned that he is closely working with his colleagues – Germyns and Kooistra who serve as CEO and Chief Financial & Risk Officer who are set to fill in his shoes temporarily until a suitable replacement in decided upon to fill in his shoes.

Please feel free to share your thoughts with us in the comments below.