Farewell to Steen Jakobsen: Saxo Bank Legacy

Steen Jakobsen, the esteemed Chief Economist and Chief Investment Officer behind Saxo Bank’s renowned financial research team, Saxo Strats, is bidding farewell after over two decades of dedicated service. His departure marks the end of an era characterized by insightful research and innovative market analysis.

Under Jakobsen’s stewardship, Saxo Strats has become a beacon of trust within the financial community, offering invaluable insights into intricate market dynamics. Notably, Jakobsen’s contributions extend beyond his role at Saxo Bank. He crafted the acclaimed ‘Outrageous Predictions,’ a platform revered for provoking critical thinking and challenging consensus beliefs.

Kim Fournais, the CEO & Founder of Saxo, commended Jakobsen’s pivotal role in shaping the bank’s reputation as a trusted advisor for investors and traders. He acknowledged Jakobsen’s instrumental role in fostering a culture of innovation and excellence within Saxo Bank.

Farewell to Steen Jakobsen: Saxo Bank Legacy

Peter Garnry, Head of Equity Strategy, has been appointed Jakobsen’s successor, ensuring continuity in Saxo Strats leadership. Despite the transition, the bank remains committed to upholding its standards of excellence and delivering unparalleled market insights to its clientele.

Jakobsen expressed gratitude for his tenure at Saxo Bank, emphasizing the collaborative spirit and commitment to challenging conventional wisdom. Moreover, he expressed confidence in Saxo Bank’s future endeavors, believing that the Saxo Strats team will continue to navigate the complexities of the financial markets with aplomb.

Amid Jakobsen’s departure, Saxo Bank continues to make waves in the financial landscape. Recent financial reports for 2023 revealed a decline in net profit despite increased revenue, reflecting the challenges inherent in today’s market environment. Nonetheless, Saxo Bank’s solid operating profitability, robust capitalization, and effective risk management practices have earned it an upgraded credit rating from S&P Global Ratings, underlining its resilience and stability.

On a different note, Saxo Bank reported a significant downturn in FX volumes for March, marking the lowest monthly volume in eight years. This trend underscores the shifting dynamics within the forex market and highlights the need for adaptability in the face of evolving market conditions. Meanwhile, Saxo Bank’s Middle East and North Africa division announced the appointment of Tara Tyan as Chief Operating Officer, reinforcing the bank’s commitment to talent development and internal promotion.

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