According to the announcement, the newly appointed CEO of the MENA region will report directly to the company’s Chief Sales Officer Stig Christensen. Hitchen will be based in Saxo Bank’s regional office in Dubai. He will facilitate Saxo Bank’s growth in the region.
Hitchen has over two decades of experience in the global financial sector. He is joining Saxo Bank from Swissquote, where he worked as Chief Executive Officer for Swissquote Singapore. Hitchen also served as CEO of Swissquote in Dubai.
“The MENA region is of great strategic importance for the Group, and we are proud to attract a profile and capacity like Damian to spearhead our growing business in the region,” Kim Fournais, CEO & founder of Saxo Bank, said.
“We have welcomed many new clients over the past years, and I am very confident that Damian will further accelerate our growth journey as more and more clients trust us with their assets. He brings extensive regional knowledge and a strong track record within trading, investing, and asset management.”
In its latest financial results, Saxo Bank reported an operating income of DKK 2.4 billion (US$380m) during the first six months of 2021. The financial services provider also posted a net profit of DKK 512 million (US$81.15m) for the first half of 2021.
“I am very excited to join Saxo Bank and further grow our regional presence. I have followed Saxo Bank for many years and know them as a firm that from the outset has focused on leveraging technology to disrupt the industry and bring better platforms, products, and services to investors,” Hitchen commented.
In the latest announcement, Saxo Bank highlighted the importance of the MENA region for its global expansion. The company is planning to utilize the extensive experience of Hitchen in the MENA region for its regional growth.