Saxo Bank Appoints New Leaders for APAC, MENA

Saxo Bank appoints new leaders: Damian Hitchen as Regional Head of APAC and MENA, and Mahesh Sethuraman as Singapore CEO. These changes follow the departure of Adam Reynolds, the former CEO of both regions.

Damian Hitchen, previously CEO of Saxo’s MENA operations, has been named Regional Head of APAC and MENA, while Mahesh Sethuraman will take on the CEO role for the Singapore office. The appointments made public on Tuesday, come at a pivotal time as Saxo Bank’s ownership group is reportedly considering bids for a potential sale. The leadership changes also significantly strengthen the firm’s presence in the growing APAC and MENA markets. 

Saxo Bank Appoints New Leaders for APAC, MENA

Hitchen, who joined Saxo in 2021 as CEO of MENA, will now oversee the development and growth of Saxo’s business across both regions. With 24 years of experience in the financial services industry, including leadership roles at Swissquote, Hitchen is driving Saxo’s expansion. He expressed enthusiasm about his new role, particularly the growth potential in the Singapore and broader APAC markets. “I am excited to reconnect with the dynamic opportunities in Singapore and APAC while continuing to build on the strong foundation in MENA,” Hitchen said. 

Sethuraman, who joined Saxo in 2018, has held several key roles, including Sales Trader and Country Head of Global Sales Trading in Singapore. As Singapore CEO, Sethuraman will focus on leading the company’s operations in one of its most important markets. Reflecting on the company’s growth in the region, Sethuraman noted, “While we’ve made significant strides, we still have much untapped potential in Singapore and the wider APAC region.” 

Kim Fournais, founder and CEO of Saxo Bank, praised the appointments, calling both Hitchen and Sethuraman “true Saxonians” committed to delivering value to clients while maintaining a strong focus on compliance and business growth. The leadership changes signal Saxo’s ongoing commitment to expanding its digital-first platform in critical global markets.

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