October 04, 2006 at 05:59 AM EDT
Saxo Bank Names Tobias Straessle to Lead Next-Generation IT Advance

GENTOFTE, Denmark, Oct. 4, 2006 (PRIMEZONE) -- Seasoned financial services IT executive Tobias Straessle will steer Saxo Bank's IT strategy through growth push, enhancement of technology suite

Tobias Straessle comes to Saxo Bank after a 16-year career in global senior IT executive roles with UBS Investment Bank. Prior to his stint at UBS he worked broadly as a consultant in the European financial services industry, primarily Andersen Consulting (now Accenture). In the latter function, Straessle was instrumental in developing the world's first fully electronic derivatives exchange, which subsequently became Eurex.

At Saxo Bank, Mr. Straessle will align the Bank's expanding technology suite and ambitions for global scalability with a larger strategic roadmap for cost allocation, governance and infrastructure.

Ole Rossing, who has served as the Bank's CIO and chief developer of its front-line systems since its inception, will continue to directly manage its global software departments, and will retain an executive role as vice CIO of the entire IT group.

Commenting on the appointment, Mr. Straessle said: "I am greatly energized by the challenge of guiding and executing Saxo Bank's IT strategy, and look forward to joining a team known around the world for its extraordinary commitment to visionary technology for the global capital markets."

Commenting on the appointment, co-CEO Kim Fournais said: "We look forward to drawing upon Tobias Straessle's extensive experience in investment banking IT and executive management, as we continue to develop and distribute the most popular and innovative investment software on the market today. This is the beginning of a new technological era for Saxo Bank."

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