Saxo Bank’s Chief Economist Retires After 20 Years of Service

After more
than two decades of service, Steen Jakobsen, the man behind Saxo Bank’s financial
research team, Saxo Strats, is stepping down from his role as Chief Economist
and Chief Investment Officer.

Under Jakobsen’s
leadership, Saxo Strats has become a trusted source of market analysis and
thought leadership, providing clients and the broader financial community with
actionable insights into complex market dynamics.

Over the years, Jakobsen has held various roles at Saxo Bank. For instance, in 2016, he was appointed the Co-Head of Global Sales Trading, while also continuously serving as the Chief Economist.

“Steen
has been fundamental in making Saxo Bank a trusted source for investors and
traders,” Kim Fournais, the CEO & Founder of Saxo, praised Jakobsen’s
role in making Saxo Bank a respected name in the industry. “He is the
architect behind the popular ‘Outrageous Predictions,’ which is second to none
when it comes to stimulating critical thinking and challenging consensus.”

Peter
Garnry, the Head of Equity Strategy, was appointed as Head of Saxo Strats in
the previous year, ensuring continuity in leadership.

Jakobsen also expressed his gratitude for the opportunity to work with Saxo Bank over the
years, particularly his colleagues in Saxo Strats.

Outta here! pic.twitter.com/9TUSlQO1o6

— MQTA (@Steen_Jakobsen) April 4, 2024

“Our
goal has always been to challenge conventional thinking and provide a deeper
understanding of the markets,” he said. “I am proud of what we have
achieved together and confident that Saxo and the Strats team will continue to
do their part to help investors make sense of a complex world and markets that
can be difficult to make sense of.”

Results, Volumes, and
Ratings

Saxo Bank
has been bustling with activity recently. Just a month ago, the company
reported its results for 2023, including an 8.1% decrease in net profit despite
a surge in revenue. The brokerage concluded the year with an operating income
of DKK 4.48 billion and 1.15 million traders.

The Danish
financial institution recorded a net profit of DKK 260 million in 2023, a
notable decline from the DKK 711 million reported in the previous year.
Furthermore, the adjusted net profit for the latest period stood at DKK 653
million, signifying an 8.1 percent year-on-year reduction.

This week,
Saxo Bank announced that it had been awarded an “A-” long-term issuer
credit rating by S&P Global Ratings, an upgrade from its previous
“BBB” rating. The company emphasized that the stable outlook
accompanying the rating demonstrates its “solid operating profitability,
robust capitalization, and effective risk management
Risk Management

One of the most common terms utilized by brokers, risk management refers to the practice of identifying potential risks in advance. Most commonly, this also involves the analysis of risk and the undertaking of precautionary steps to both mitigate and prevent for such risk.Such efforts are essential for brokers and venues in the finance industry, given the potential for fallout in the face of unforeseen events or crises. Given a more tightly regulated environment across nearly every asset class,

One of the most common terms utilized by brokers, risk management refers to the practice of identifying potential risks in advance. Most commonly, this also involves the analysis of risk and the undertaking of precautionary steps to both mitigate and prevent for such risk.Such efforts are essential for brokers and venues in the finance industry, given the potential for fallout in the face of unforeseen events or crises. Given a more tightly regulated environment across nearly every asset class,
Read this Term practices.”