FNG Exclusive… FNG has learned that Michael Ridley, a non-executive director at Saxo Capital Markets UK Limited, the FCA regulated arm of Copenhagen based Retail FX and CFDs broker Saxo Bank, has stepped off the board of the company.

The move comes just days after Saxo UK Chairman Richard Balarkas also left the company. Saxo Bank has added its longtime EVP Head of Group Markets & Treasury, Henrik Juel Villberg, to the board of Saxo UK.

A week ago control of Saxo Bank was sold to Safra group Swiss private banking arm J. Safra Sarasin Group, and we expect a lot more management and board changes at the company, and its various operating arms, in the weeks and months to come.

Michael Ridley joined Saxo UK’s board in 2022. Michael is a finance industry veteran with over 40 years of experience in investment banking, focusing on sovereigns and financial institutions. He spent 17 years at J.P. Morgan Securities, where he served on the board of J.P. Morgan Europe Limited for seven years and held the position of Vice Chairman, Investment Banking, and Global Head of fixed income syndicate. Michael continues to be actively involved in capital markets through both industry associations and as an advisor to governments, pension funds and family offices.