Simmonds tipped to join Saxo Bank’s Board of Directors

Gentofte-- Julian Simmonds joined Citibank in 1972 and served the bank in several capacities throughout his three-decade career there, notably as Head of Foreign Exchange and Structured Products, and as Executive VP responsible for Citibank's Trading, Sales and Corporate Finance Activities for the OECD world. Citibank’s virtual domination of global FX trading strategies throughout the 1990's has been widely credited to Simmonds' highprofile leadership role. He also served as a member of the Federal Reserve Bank Committee for Foreign Exchange in New York. Julian Simmonds retired from Citibank in 2001.

Julian Simmonds was introduced to Saxo Bank CEO's Kim Fournais and Lars Seier Christensen by global private equity firm General Atlantic LLC, a shareholder of Saxo Bank. Julian Simmonds will become the third international member of Saxo Bank's sevenmember board, following last year's election of General Atlantic executives Florian Wendelstadt and Jonathan Korngold.

In a statement on Julian Simmonds' nomination to the board, Saxo Bank's Kim Fournais said, "In Julian Simmonds, we will gain the expertise of a man who set the tone not just for FX trading at Citibank, but for the entire market. His background, experience and network will add significant value as we continue to pursue our strategic growth objectives. We are naturally very pleased to welcome him to the Saxo board."

Commenting on the nomination, Julian Simmonds said, "Saxo Bank is very wellpositioned in a dynamic and high growth market and I am very excited about the bank's potential for continued growth and global expansion. I welcome the opportunity to join Saxo Bank's board of directors and to take part in shaping its future."

About Saxo Bank A/S
Saxo Bank A/S is a modern investment bank specializing in online investments in the international Capital Markets. Saxo Bank enables clients to trade currencies, shares, CFD contracts, futures, options and other derivatives as well as portfolio management via our online trading platform - SaxoTrader. SaxoTrader has been internally developed by Saxo Bank and is available to today's investor directly through Saxo Bank or through one of our global partnerships as an integral part of their own infrastructure. Today, Saxo Bank's most significant area of business is White Labelling, which is the development of tailored versions of the online trading platform to other banks and brokerage houses. Saxo Bank has 58 White Label Partners and thousands of direct clients in more than 120 countries. The bank's website www.saxobank.com - has a membership of over 500,000 and is visited by more than 60,000 investors every day. Saxo Bank currently employs more than 440 employees from 40 different countries.

Further information please contact:

Saxo Bank - Ann Sophie Friis - Press Officer
e-mail: asf@saxobank.com - mobile: +45 3065 4358