Saxo Bank A/S Chairman Lone Fønss Schrøder retired from the board, effective Feb. 20.

"I now consider my mission in Saxo Bank to be completed and I feel a need to focus on other assignments," Schrøder said.

Schrøder has been chairman since May 2015 and a member of the board since December 2013. Henrik Normann, formerly vice chairman, takes over from Schrøder.