Former head of FX at Saxo Bank, Michael Aagaard, Appointed Managing Director of GCEX in Denmark

May 06, 2022 - Michael Aagaard, former Head of Foreign Exchange at Saxo Bank has been appointed as Managing Director of GCEX in Denmark. He will be responsible for all GCEX’s activities out of Denmark and GCEX’s growing team in Copenhagen. He will also work closely with Founder and CEO, Lars Holst on strategic growth plans for the organisation.

Michael Aagaard spent almost 20 years at Saxo Bank. As Head of Foreign Exchange he was responsible for product development and strategy of all FX and crypto products. He joins GCEX from a contractor role at Oanda, where he has spent the last six months as a Digital Assets Consultant advising Oanda on its digital assets offering.

Lars Holst, Founder and CEO of GCEX comments, “This is a significant hire for GCEX. Michael brings extensive experience in FX and digital assets to our firm. Having worked previously with him at Saxo, I have every confidence that he is the ideal candidate to head up our operations in Denmark and play a major role in enabling us to achieve our ambitious growth plans.”

Michael Aagaard, Managing Director, GCEX, Denmark adds, “I am very excited about joining Lars and his fantastic team. I have a huge amount of respect for how much they have achieved in such a short space of time. This is a great opportunity for me as I embark on the next stage of my career. I wanted to remain in the digital assets space but also be part of an organisation with an entrepreneurial spirit. GCEX ticks all the boxes and I am looking forward to contributing to the firm’s ongoing success and working closely with the GCEX team globally.”

GCEX was on the temporary register for Crypto firms with the UK FCA but LiquidityFinder has come to understand that GCEX has withdrawn this application (along with more than half of the other firms on the temporary list) and is now reorienting its crypto business from its base in Denmark.

GCEX is an FCA regulated digital brokerage that enables brokers, funds and professional traders to access deep liquidity in digital assets and FX. GCEX offers a wide range of products and technology solutions including White Labels. Its ‘Crypto In A Box’ plug and play solution comprises of a technology-agnostic platform which covers regulation, custody, safety of funds, liquidity and technology (both backend and frontend). GCEX’s unparalleled suite of integrated trading technology includes AI applications, allowing clients to automate onboarding, offer and trade digital assets, FX & CFD Indices, with deep streaming liquidity and solutions for clearing.

GCEX is headquartered in London, with offices in Glasgow, Copenhagen and Kuala Lumpur.

To view the institutional services offered by GCEX, please use the links below: