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The 2015 Tech 50: Lars Seier Christensen and Kim Fournais

The co-CEOs of Saxo Bank climb to No. 39 on this year’s Tech 50 ranking.

Lars Seier Christensen and Kim Fournais
Co–Chief Executive Officers
Saxo Bank

In 2014, for the second year in a row, Saxo Bank doubled its net profit, this time to 381 million Danish kroner ($56.7 million). That’s strong vindication for the strategic shift that founders and co-CEOs Lars Seier Christensen, 52, and Kim Fournais, 49, made three years ago. The business, a pioneering online brokerage at its start in 1992, converted to a bank in 2001. After it diversified into real estate and asset management with poor results, the two leaders in 2012 refocused their energies on trading innovation. Ahead of most financial institutions, Hellerup, Denmark–based Saxo embraced HTML5, a cross-platform programming language that is at the heart of SaxoTraderGO, a system introduced in May for multi-asset-class trading on any device, desktop or mobile. Touted as “the foundation of the trading platform of the future,” SaxoTraderGO is accompanied by OpenAPI, an application programming interface that will be available to white-label users of Saxo technology as well as external developers later this year. “We believe other banks will adopt this methodology quickly, as it is a way of future-proofing and keeping cost down,” says Christensen. “Unless the incumbents keep up with the pace of innovation and continue to improve the client experience, disruptive forces will seek to fill the void.” One of Saxo’s premier white-label customers, Citi, said in May that it is selling off part of its foreign exchange business. As a result, Saxo is taking on Asia-Pacific clients of CitiFX Pro, who Christensen says will be offered “investment diversification possibilities via our multiasset, cross-collateralized, single-account offering,” not to mention SaxoTraderGO.

See the full story, “The 2015 Tech 50: Racers to the Edge.”

The 2015 Tech 50

1. Jeffrey Sprecher
Intercontinental Exchange
2. Catherine Bessant
Bank of America Corp.
3. Phupinder Gill
CME Group
4. Lance Uggla
5. Robert Goldstein
6. Shawn Edwards &
Vlad Kliatchko
7. R. Martin Chavez
Goldman Sachs Group
8. Deborah Hopkins
Citi Ventures
9. Stephen Neff
Fidelity Investments
10. Adena Friedman
Nasdaq OMX Group
11. David Craig
Thomson Reuters
12. Daniel Coleman
KCG Holdings
13. Michael Spencer
14. Michael Bodson
Depository Trust & Clearing Corp.
15. Charles Li
Hong Kong Exchanges and Clearing
16. Chris Concannon
BATS Global Markets
17. Christopher Perretta
State Street Corp.
18. Antoine Shagoury
London Stock Exchange Group
19. Kevin Rhein
Wells Fargo & Co.
20. Neil Katz
D.E. Shaw & Co.
21. Lee Olesky
Tradeweb Markets
22. Richard McVey
MarketAxess Holdings
23. Seth Merrin
Liquidnet Holdings
24. Robert Alexander
Capital One Financial Corp.
25. Frank Bisignano
First Data Corp.
26. John Marcante
Vanguard Group
27. Joseph Squeri
28. Lou Eccleston
TMX Group
29. Claude Honegger
Credit Suisse
30. Chris Corrado
31. David Gledhill
DBS Bank
32. John Bates
Software AG
33. Michael Cooper
BT Radianz
34. Gary Scholten
Principal Financial Group
35. Sunil Hirani
trueEX Group
36. Hauke Stars
Deutsche BÖrse
37. Brian Conlon
First Derivatives
38. Jim Minnick
39. Lars Seier Christensen & Kim Fournais
40. Tyler Kim
41. Jim McGuire
Charles Schwab Corp.
42. Steven O'Hanlon
43. Sebastián Ceria
44. Yasuki Okai
NRI Holdings America
45. Stephane Dubois
46. Mazy Dar
47. Brian Sentance
Xenomorph Software
48. Mas Nakachi
49. John Lehner
BNY Mellon Technology Solutions Group
50. Jock Percy

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