Saxo Bank (Switzerland) SA

Steen Jakobsen Re-joins Saxo Bank

Hellerup, Denmark (ots/PRNewswire) - Saxo Bank announced today that the Group has reappointed Steen Jakobsen to the position of Saxo Bank's Chief Economist.

Mr. Jakobsen returns to the Bank after two years' absence. During that time he has been Chief Investment Officer for Limus Capital Partners. Prior to his departure in early 2009, Mr. Jakobsen was with Saxo Bank for almost nine years.

Mr. Jakobsen has more than 20+ years of experience within the fields of proprietary trading and alternative investment. In 1989, after finishing his studies in Economics at Copenhagen University, he started his career at Citibank N.A. Copenhagen from where he moved to Hafnia Merchant Bank as Director, Head of Sales and Options. In 1992, he joined Chase Manhattan in London as VP, Head of Scandinavian Sales, and then the Chase Manhattan Proprietary Trading Group. 1995-1997 he worked as a Proprietary Trader and Head of Flow Desk at Swiss Bank Corp., London. In 1997, he became Global Head of Trading, FX and Options at Christiania (now Nordea) in New York until he joined UBS in New York in 1999 as the Executive Director in the Global Proprietary Trading Group.

Mr. Jakobsen will report directly to the top management and begin work on 17 March with an appearance as guest host on CNBC Europe. This is a role he has tried before and that he will be taking on in the future, too.

At the same time, Saxo Bank is pleased to announce that David Karsb0l, who has been the Bank's Chief Economist for the past two years, formally will join Sr. Vice President Christian Kofoed Jakobsen's Banking team with whom he has already been working closely for the past six months. Mr. Karsb0l will be responsible for the development of pension and investment products for the Banking activities. Mr. Karsb0l joined Saxo Bank in 2003.

Contact:

Media enquiries: Kasper Elbj0rn, Head of Group Public
Relations,+45-3065-4300, press@saxobank.com



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