Saxo Bank, the Denmark-based international online trading and investment firm which also provides services for high net worth clients, has appointed Tom Hougaard as market commentator for its financial spreads division.

In this London-based role at Saxo Bank Financial Spreads, Mr Hougaard will be responsible for twice daily market commentary notes covering both fundamental and technical movements in the financial markets as well as providing press comments.

Prior to this appointment, Mr Hougaard worked as chief market strategist for City Index for eight years.

“Tom is an active private day trader who brings with him a wealth of trading and investment knowledge and experience. His in-depth understanding and experience of financial markets will further establish Saxo Bank Financial Spreads and help to build an even greater presence in the UK,” said Albert Maasland, head of Saxo Bank's London office. 

In other recent development, earlier this month Saxo Bank acquired a 40 per cent stake in Initto, the Danish owned software and IT services provider, for an undisclosed sum.