Saxo Bank, an online platform for investors, traders, and institutional partners said on 17 June it had decided to initiate a review of strategic opportunities for its Asia presence.
"The review is undertaken to accelerate Saxo’s growth in the region", the statement said.
Following conversations with potential partners, Saxo said it would be looking to create new partnerships with strong organisations in Asia where the current offices in Australia, Japan, and Hong Kong can form an integral part of the partnerships.
By forming partnerships from the outset in the existing offices, clients, and client assets, new partners can continue to leverage Saxo’s core strength of a scalable and multi-asset infrastructure. Partners can offer award winning platforms under their own brand and maintain full customer control.
"For Saxo it means maintaining a commercial footprint with large growth opportunities. New partnerships mean new opportunities and more potential for both new partners and Saxo and equally important, Saxo’s dedicated employees in the Australian, Japan and Hong Kong offices.", it said.
Founded by CEO Kim Fournais in 1992, Saxo launched one of the first online trading platforms in Europe in 1998, providing professional-grade tools and easy access to global financial markets. Saxo formed its first partnership in 2001, with a partner that is still with Saxo, and has grown the Saxo Institutional business to more 400 partners today.
Today, it has more than 1.2m clients with over DKK 800bn in client assets, where approx. half of both clients and client assets come from Saxo’s Institutional business.
Just over five years ago, Saxo had fewer than 200,000 clients and a little more than DKK 110bn in client assets.
S&P Global Ratings recently upgraded Saxo Bank’s credit rating to 'A-', reflecting a strengthened financial profile and improved capital buffers in line with the requirements for systemically important financial institutions (SIFIs).
