The Danish bank has made a change to its executive team.

Saxo Bank has appointed Ashok Kalyanswamy as its new chief information officer, replacing Ashley Latham, who has stepped down.

Kalyanswamy most recently served as division director and CIO for Macquarie Securities Group, based in Hong Kong. He has over 20 years of industry experience, having worked in various senior technology positions at firms including Lehman Brothers and Nomura.

Based in Copenhagen, Kalyanswamy will be responsible for the strategic direction and operations of Saxo Bank’s global IT organisation, leading the bank’s 500-strong IT team. He will assume the role in January 2017.

Latham, who joined Saxo a decade ago, became the bank’s CIO in 2014. He is now an independent consultant, according to his LinkedIn profile. 

“We are thrilled to be welcoming Ashok, who brings with him a wealth of experience in developing innovative information technology solutions for leading global financial institutions, and have him further strengthen the excellent foundation passed on from Ashley Latham,” said chief executive and co-founder Kim Fournais.

“Technology has never been more important for the financial industry and it is absolutely key to our role as a financial markets facilitator. With Ashok’s extensive experience in this area and his renowned skills as a manager, I am sure that he will be a real asset for our IT organisation, the firm as a whole, and thereby further strengthen our deliveries that enable our clients to access global capital markets.”

The appointment comes weeks after Saxo launched a digital trading service for corporate and government bonds.