The appointment will be effective from January 2018.

Saxo Capital Markets UK, the UK subsidiary of SaxoBank A/S, has appointed Andrew Edwards as its new chief executive, effective January 2018.

Edwards joins SCML with over 18 years in the sector, 12 of which were spent establishing and expanding a complex financial services business. He most recently served as CEO of ETX Capital, the firm said in a statement.

The appointment is part of Saxo’s ambition to expand and facilitate partnerships and collaborations, as well as giving private clients access to multi-asset trading capabilities.

“Andrew has a deep understanding of the UK market and the proven ability to enhance our service offering to institutions, private traders and investors," said Anthony Belchambers, non-executive chairman. “With regulatory requirements for major asset classes converging, Saxo is strongly supportive of the regulatory priority to set higher standards in the industry and for the better protection of clients. Saxo is deeply committed to prioritising customer interests and the appointment of Andrew Edwards reflects our commitment to that objective and to the UK market”.

SaxoBank Group is a multi-asset trading and investment specialist, offering investment and trading technologies, tools and strategies.

In October, this publication reported that financial services organisation Sampo Group offered to take a 19.9 per cent stake in Copenhagen-listed SaxoBank.