Saxo Bank Promotes John Carmichael to Chief Risk and Compliance Officer

Saxo Bank, the Copenhagen-based online trading and investment firm, has announced the promotion of John Carmichael to the position of Chief Risk and Compliance Officer, intending to strengthen the firm's governance structure, risk management, and compliance efforts.

Carmichael, who graduated from the University of Cambridge, joined the Danish bank in November 2007 as Chief Audit Officer for more than 16 years, according to his LinkedIn profile. Earlier to that, he spent three years at Maersk, an integrated transportation and logistics company, as Group Internal Audit Director.

In September 1995, he started his career as a manager at the international accounting firm PwC. By 1998, he was promoted to Senior Manager of Transaction Services, and he left the firm in 2004.

Kim Fournais, Founder and CEO of Saxo Bank, commented: "John's expertise and proven track record make him the ideal leader to guide our risk and compliance functions in this new chapter of our growth. John's role in the Executive team and Board of Management will be instrumental, where his deep understanding of our business and his robust experience in audit and compliance make him highly qualified to drive further improvements in our rick and compliance."