FNG Exclusive… The exodus of many long-term Saxo Bank senior executives following the takeover of the Copenhagen based Retail FX and CFDs broker earlier this year by Safra Group is continuing. FNG has learned that Dan Juhl Larsen, Saxo’s Head of FX Trading, has left the company to join Danish asset management outfit Nykredit Asset Management.

Dan Juhl Larsen was a Saxo Bank “lifer”, joining Saxo straight out of Copenhagen Business School in 2006. In his nearly 20 years at Saxo Bank, Dan rose the ranks from serving as a Foreign Exchange Dealer to being named Head of FX Trading, a role he filled at Saxo since 2015.

The executive changes at Saxo seem to be part cost cutting by the new owners, and part replacement of key roles at Saxo with Safra Group people. With Saxo recently naming Safra Group executive Daniel Belfer as CEO, other recent departures at Saxo have included COO and Deputy CEO Søren Kyhl, risk governance head Laura Berg Deleuran, commercial offering head Casper Andreas, and CCO Stig Christensen.

Dan posted the following note on social media regarding his move to Nykredit.

After almost 20 years at Saxo Bank, the time has come for me to seek new adventures.

Many people have come and gone through those years, and many are still there :-), and I want to thank all those colleagues and partners I have met along the way for what has been a fun and educational journey, and there are plenty of positive memories I will look back on for many years to come.

At the same time, I am excited to share that I will be joining Nykredit Asset Management. I look forward to the new challenges and opportunities that lie ahead — and to meeting new colleagues along the way.