Saxo Bank, based in Denmark, has announced the appointment of John Carmichael as Chief Risk and Compliance Officer.

Carmichael joined Saxo Bank in November 2007 as Head of Internal Audit. Prior to this, he spent three years at Maersk, an integrated transportation and logistics company, as Group Internal Audit Director. From 1995 to 2004, he worked for the international accounting firm PwC, where he reached the position of Senior Manager in Transaction Services.

John is a graduate of the University of Cambridge and the Institute of Chartered Accountants in England and Wales (ICAEW).

"John's knowledge and experience make him the ideal leader to lead our risk and compliance functions in this new phase of our growth. John will play an important role on the Executive Committee and the Board of Directors, where his deep understanding of our business and extensive experience in audit and compliance make him uniquely qualified to drive further enhancements to our risk management functions," commented Kim Fournet, Founder and CEO of Saxo Bank, on Carmichael's appointment to his new role.

"I am honored to take on this responsibility at such an important time for Saxo Bank," said John Carmichael.