Denmark-based Saxo Bank has promoted its chief operating officer Soren Kyhl to the newly established role of deputy chief executive officer.

Saxo, which focuses on online trading and investment, has also appointed Damian Bunce as its new chief commercial officer, also a newly created position.

Both Bunce and Kyhl have also been appointed to Saxo’s board of management.

According to the bank, Kyhl’s is seen as the likely successor to current chief executive Kim Fournais, although Forunais refutes the idea that retirement is imminent.

Fournais says that he is “more passionate and fired up than ever” and adds that Kyhl’s appointment is “not a retirement plan for me but an upgrade of our leadership capabilities”.  

The two appointments come just days after Saxo announced Lars Kufall Beck as its replacement chief financial officer for the departing Rasmus Lind.

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