Utilize the input text as a context reference, choose the right relationship between 'Saxo Bank' and 'Copenhagen' from the options.
Options: product/material produced, owned by, business division, location of formation

Mr. Macartney has served as the Head of Social at Saxo Bank since August 2014, having worked in its Copenhagen branch – over the past year he has helped develop Saxo’s online brand, whilst helping manage its TradingFloor platform.
location of formation