Saxo Bank Reviews

Updated September 13, 2014
Updated September 13, 2014
30 Reviews
2.8
30 Reviews
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Saxo Bank CEOs Kim Fournais & Lars Seier Christensen
Kim Fournais & Lars Seier Christensen
6 Ratings

Employee Reviews

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  1.  

    Financial Associate

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Financial Associate
    Current Employee - Financial Associate

    I have been working at Saxo Bank full-time

    Pros

    It is a great team of very different international people, but all very positive and interesting to work with.
    You can learn a lot and everyone will be ahoy to answer your questions, so just ask)
    Saxo is well known in the industry, so in case you are planning a career within financial markets - it is a good place to be or start ff.

    Cons

    Due to the industry specifics as well, it is a very fast changing environment. Maybe not as much as some smaller brokerage houses, but still a lot of major changes are coming and going, e.g. structural, organizational, hr.
    This is rather stressful, at least for people like myself, which obviously doesn't add motivation.

    Advice to ManagementAdvice

    When you make changes, think about employees as well, not a bigger organizational picture only. And inform employees in timely manner in order to avoid gossip.

    Recommends
    Positive Outlook
    No opinion of CEO
  2.  

    Chaos & politics in 2010

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at Saxo Bank full-time (more than an year)

    Pros

    Saxo had a great culture when I joined, a truly multicultural environment, a breading ground for great ideas. At that time the company was being directly managed by the Kim & Lars, the founders. However they had brought in a highly regarded but controversial CEO - Eric Rylberg.

    Cons

    Eric's stated that Saxo Bank was a Danish bank and as such would be managed by Danes. At the same time 1/3 of the staff were let go. Many mid management and C level staff were release, and new people put in place. These appointments were often made to people with no banking back ground. The culture changed from one where people strove to do great things into one where people were worried about failing. Eric is no longer the CEO.

    Advice to ManagementAdvice

    Manage openly and you will harness the power of a team. Manage closed and you will get burger flippers.

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  3.  

    Excellent, i love Saxo Bank, highly recommend!!!

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Office Manager in Ypsonas (Cyprus)
    Former Employee - Office Manager in Ypsonas (Cyprus)

    I worked at Saxo Bank full-time (more than an year)

    Pros

    Company truly cares about well being of employees, very healthy lifestyle is promoted in the company. Excellent company benefits. Owners / CEO's are wonder full people, down to earth and talkative with all levels of staff. Very high interaction with all staff. Truly has promotional prospects and people are given the ability to prove themselves and grow.

    Cons

    If i had to really squeeze and try hard to think of a con, it would be that there should be HR departments in all major offices like the Cyprus office, as there is always this thought that people in DK are valued more than others and i think a good HR could pull the team back together no matter what changes are made with restructuring. At the very least regions should have their own HR, based in the region, as you need to have someone who knows everyone on a personal level so that its more effective and people can express themselves and not feel like just a number

    Advice to ManagementAdvice

    Cy office, ask anyone in the office and i think they will tell you they want me back, they will know who i am :)

    Recommends
    Positive Outlook
    Approves of CEO
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  5.  

    Top management is a disaster

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Senior Vice President in Copenhagen (Denmark)
    Current Employee - Senior Vice President in Copenhagen (Denmark)

    I have been working at Saxo Bank full-time (more than 10 years)

    Pros

    Nice building, coffee is good.

    Cons

    Very varying quality in management, lack of ethics, no direction in Executive management team, history of completely new top management repeats itself every 3-4 years, usually finalized with massive layoffs. Company peaked in 2009, and potential has been dropping steadily since (don't trust the annual reports - the books are cooked). HR has a lot of initiatives, but they are all extremely poorly executed. IT endorses
    management by fear, and most employees simply avoid engaging because threats of getting fired for being at the wrong place at the wrong time happens on a daily basis. This could be related to the fact that development is beeing moved to India, and by making people resign by themselves the company saves lay-off compensations. It used to be a great place to work with very high standards - now only the ones not able to get a job elsewhere is left.

    Advice to ManagementAdvice

    Currently the seven values (rationality, independence, integrity, justice, productivity and pride) represent everything not present in the company. Get some new values or start taking them seriously.

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
  6.  

    HR Focused Investment Bank

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Xxxx in Copenhagen (Denmark)
    Current Employee - Xxxx in Copenhagen (Denmark)

    I have been working at Saxo Bank full-time (more than 10 years)

    Pros

    Great Place to Work
    Owners are CEOs

    Cons

    Leadership training
    Changes in management often

    Recommends
    Neutral Outlook
    Approves of CEO
  7.  

    Dazed and Confused

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Business Analyst in Copenhagen (Denmark)
    Current Employee - Business Analyst in Copenhagen (Denmark)

    I have been working at Saxo Bank full-time (more than 3 years)

    Pros

    Clean and hygenic. Danish employer standards. Decent benefits and extra curricula activities.

    Cons

    Poor mid -management training, lack of clarity and focus.

    Advice to ManagementAdvice

    It's been said previously. But the Senior Management really need to get a grip on how to lead from the front to inspire teams.Continual announcements of "game -changing " innovations have worn thin. That's the deadwood. With some, the heart is in the right place, but the business skills sadly lacking.

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
  8.  

    Disorder, nepotism, sexism / would not recommend this workplace

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Manager in Hellerup (Denmark)
    Current Employee - Manager in Hellerup (Denmark)

    I have been working at Saxo Bank full-time

    Pros

    above average salary, possibility for moving departments -if you know people

    Cons

    no clear strategy, too many layoffs, management don't care about the people, nobody in management adheres to the "core values" of the company, nepotism is ever present it's pathetic, merit is not awarded accordingly but knowing the right person is.

    Advice to ManagementAdvice

    let people who work there work there don't get involved as much as you do in daily business and set a clear strategy, it is time to get back to where we were years and years ago.. we're so behind competition its sad.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  9.  

    very poor management

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at Saxo Bank

    Pros

    nice head office and relaxed atmosphere. their trading platform is of good quality

    Cons

    this place is definitely not a meritocracy, and very often management at top level is very poor. Clients come last throughout their time.

    Doesn't Recommend
  10.  

    willing spirit, weak flesh

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Information Technology in Copenhagen (Denmark)
    Current Employee - Information Technology in Copenhagen (Denmark)

    I have been working at Saxo Bank full-time

    Pros

    - good monetary compensation, though not above market level for this industry
    - 6+1 weeks vacation time. This isn't so much Saxo to thank, more Danish legislation and the collective agreements in place in DK.
    - managers tend to avoid micro-management and generally try to get out of people's way. This is actually too much of a good thing in that it also removes management completely from operational concerns and makes it far too easy to wash one's hands of responsibility in any eventuality
    - some indications that executive mgmt has realised some of the problems and are taking steps to revamp the organisations (lean methodologies, change of senior mgmt that was either incompetent or nepotistically selected, more focus of data-driven decision making)

    Cons

    - "don't rock the boat" mentality pervades the organisation. Keep quiet, stick to the walls and avoid ruffling feathers, particularly such that would ripple upstairs. This is directly counter to the values that the organisation claims to aspire to and the contrast is grating.
    - frequent re-organisations, reassignments and unclear lines of management and responsibility make it difficult to ensure continuity in one's career.
    - personal relationships matter more than merit and achievement and it is opaque, often even to insiders, what the basis is for promotion or awarding of benefits and acclaim.

    Advice to ManagementAdvice

    break the rut and start employing fewer yes-men. Encourage an actual libertarian spirit, not an repressive regime of intimidation that makes it unlikely that the right people speak up.

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO
  11.  

    Dynamic environment

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Anonymous Employee in Copenhagen (Denmark)
    Current Employee - Anonymous Employee in Copenhagen (Denmark)

    I have been working at Saxo Bank full-time (more than an year)

    Pros

    Excellent environment with strong work/life balance culture where talent is encouraged and pay is at the top end of the spectrum. It is the kind of place where application and talent will be recognised quickly and put on the fast track..

    Cons

    There is a big turnover of people but thus far, it has been deadwood shifting rather than the loss of real talent. There are indications that it can be factional but that's something I've seen in most organisations.

    Recommends
    Positive Outlook
    Approves of CEO

Saxo Bank Photos

Saxo Bank headquarters
by Jan Lykke
Ground floor - for eating and big meetings

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