Continuing a series of senior executive departures at Copenhagen based Retail FX and CFDs broker Saxo Bank around the takeover of Saxo by private banking giant Safra Group – which just closed this morning, nearly a year after first being announced – longtime Saxo Bank executive Søren Kyhl has announced that he is leaving the company.

Søren Kyhl had been with Saxo Bank for just over 10 years, joining in 2016 as Chief Operating Officer (COO) and adding the Deputy CEO title in 2018. He came to Saxo after 13 years at Danske Bank, ending his tenure at Danske as Global Head of Transaction Banking.

Other executives recently leaving Saxo Bank have included risk governance head Laura Berg Deleuran who moved to Jyske Bank, Chief Commercial Officer (CCO) Stig Christensen, Customer Director Thomas Dam, Saxo UK’s Dan Squires (to become CCO at ADSS), Asia marketing head Nicolò Pagliari, and UK marketing head Anaam Raza.

Søren posted the following note on LinkedIn regarding his departure from Saxo Bank.

After more than 10 years as Deputy CEO and COO at Saxo Bank, the time has come for me to move on.

With today’s closing of the transaction bringing J. Safra Sarasin Group in as 70% majority shareholder, Saxo Bank enters a new chapter and so will I. We agreed on this together shortly after the deal was signed back in March 2025.

This concludes a truly exciting decade of development and transformation – both for Saxo Bank and for me personally. During this period, we expanded our focus from primarily serving the specialised Trader segment to also catering to the much broader Investor segment; grew our end-client base from just over 100,000 to more than 1.5 million; and increased client assets from less than DKK 80 billion to more than DKK 1 trillion.

Along the way, we acquired and fully integrated BinckBank, while continuously strengthening our technology platform to ensure compliance, scalability, resilience, and security – always driven by the ambition to deliver the most intuitive and engaging digital client experience in the marketplace.

It has been hugely rewarding – and at times challenging – and it has shaped me both as a leader and as a person. I’m truly proud of what we have achieved at Saxo over the last 10 years, and of the bank that is now being handed over to the new majority shareholder.

I will now take time to reflect on the next chapter of my career. After ten very focused years, I also very much look forward to spending much more time with family and friends before embarking on what comes next (I will spend much more time in right part of the picture below 😊).

To all the great colleagues I have had the privilege of working with at Saxo Bank – it has been an absolute honour. I want to extend a sincere thank you to all of you. Let’s stay in touch and I wish you and Saxo Bank all the best going forward.