Saxo Bank’s Middle East and North Africa (MENA) division has announced the promotion of Tara Tyan to Chief Operating Officer (COO), highlighting a significant enhancement in its leadership team.
Tyan, who has been an integral part of Saxo Bank for nearly six years, steps into her new role with a wealth of experience and a history of contributions within the company.
Tyan expressed her enthusiasm about her new position on LinkedIn, stating, “Excited to share that I’ve recently taken on a new role as Chief Operating Officer at Saxo Bank MENA! I’m thrilled to embrace this new step in my career and take on new challenges.”
Her career trajectory at Saxo Bank has been marked by significant roles, including her initial position as the Regional Lead of Marketing in the Dubai office since July 2018.
She also temporarily led the Global Head of Go-to-Market in Copenhagen from June to October 2022, before overseeing the MENA, UK, and Switzerland markets as Head of Go-to-Market.
Prior to joining Saxo Bank, Tyan had already built a substantial resume in the forex and contracts for differences (CFDs) sectors.
Her journey began in June 2013 as a Regional Marketing Manager at Easy Forex, followed by roles at FXPro as Global Events Manager and Equiti as a Senior Marketing Manager, among other positions at notable firms like Hansgrohe and JM Financial Services.
These experiences have equipped her with a deep understanding of the industry and the markets Saxo Bank operates in.
Saxo Bank’s financial performance in 2023 has been a topic of interest, with the company closing the year with a net profit of DKK 260 million from an operating income of DKK 4.48 billion.
This marked a slight increase in operating income from the previous year’s DKK 4.45 billion but a decrease in net profit from DKK 711 million.
Saxo Bank attributed this decline in profit to several factors, including a significant write-down of software and other adjustments.
Specifically, the bank noted, “adjusted for a write-down of software of DKK 299 million, net tax, and a negative impact of DKK 94 million from the divestment of the joint venture Saxo Geely Tech Holding A/S (Saxo Fintech).”
Tyan’s promotion within Saxo Bank MENA signifies the bank’s commitment to leadership excellence and strategic growth in the region, underscored by her proven track record and the broader financial context of the company’s operations.