FNG Exclusive… FNG has learned that Charles White-Thomson has resigned his position as CEO of Saxo Bank UK, and left the company.

He has also stepped off of the Board of Directors of Saxo Capital Markets UK Ltd, formally the FCA regulated entity which operates the Saxo Bank brand in the UK.

Replacing Charles White-Thomson as CEO of Saxo UK, at least on an interim basis, is Simon Camilleri. Simon joined the company in 2022 as Chief Operating Officer (COO) following an 18 year career at BofA Merrill Lynch, as was also exclusively reported at the time here at FNG. We understand that Saxo UK has begun the search for a permanent CEO.

Charles White-Thomson joined Saxo UK as a non-executive director in 2019, becoming Chairman of the board in early 2020 and then CEO later that year. Prior to Saxo he spent 18 years with Credit Suisse, as a Managing Director in charge of European Equities Management as well as serving as Head of Cash Equity Sales out of London for the Swiss bank.

Saxo Bank provided the following statement to FNG:

Following the announcement that Charles White-Thomson has decided to leave his position as CEO of Saxo UK at the end of January 2024, we have now identified an interim caretaker. Currently serving as Chief Operating Officer (COO) and Local Head of Mission Control in Saxo UK, Simon Camilleri, will be stepping into the role of Interim CEO for Saxo UK while we search for a permanent CEO.

Since joining Saxo in November 2022, Simon Camilleri has played a pivotal role in driving operational excellence, fostering growth within Saxo UK, and now heading the Local Mission Control team in the office. With nearly 25 years of experience in the financial industry, Simon brings a wealth of expertise and a profound understanding of our organisation.

Before joining Saxo, Simon spent over 17 years at Bank of America, where he held positions as Director of Global Markets Operational Risk and later as COO of the Global Rates Sales and Trading desk. These roles provided him with invaluable insights and operational expertise that greatly contribute to his capabilities at Saxo.

Charles White-Thomson posted the following note regarding his departure on social media.

Hello all, I have some news to share with you. After an enjoyable and action packed 5 years, I have decided to step down as CEO and leave Saxo to pursue the next chapter of my life. I would like to thank Saxo for the significant opportunity and to make a special shout out for the excellent UK office. It has been a pleasure to work with such good people and inspirational clients whilst getting a deep understanding of a 30 year old financial technology business, and all the moving parts behind a large, complex and highly regulated retail franchise.

The experience has also encouraged me to find my public voice and pen, and the courage to be as direct and frank with my views and thoughts as possible. I am grateful to all the great media institutions, publications and people I have worked with and the engaging debates around some of the more pressing issues and topics that we face.

This decision has not been easy, but as I like to say – ‘life is not a dress rehearsal’ and I look forward to what is next.