Saxo Bank Seeks Partnerships in Asia-Pacific Expansion

Saxo Bank A/S seeks Asia-Pacific partnerships to enhance operations in Australia, Japan, and Hong Kong, leveraging advanced technology for accelerated growth under partner brands. Saxo Bank’s review of strategic opportunities involves discussions with prospective partners.

It aims to establish alliances in which its existing offices in these markets will play a crucial role. Partners will benefit from Saxo’s scalable, multi-asset infrastructure, enabling them to offer Saxo’s trading platforms under their brand while maintaining full control over customer relationships.

This partnership strategy will help Saxo Bank maintain a strong Asian commercial presence and unlock significant growth potential. The bank anticipates these new alliances will create fresh opportunities for Saxo and its partners and employees in its Australian, Japanese, and Hong Kong offices.

Saxo Bank Seeks Partnerships in Asia-Pacific Expansion

Finance Magnates has reached out to Saxo Bank for further details on the strategic review and will update the article upon receiving a response. Founded in 1992 by current CEO Kim Fournais, Saxo Bank launched one of Europe’s first online trading platforms in 1998. The Copenhagen-based bank has expanded its institutional business to over 400 partners, with approximately half of its 1.2 million clients and over $120 billion in client assets stemming from this segment.

Saxo Bank recently received an upgraded credit rating of “A-” from S&P Global Ratings, reflecting improved capital buffers in line with Danish regulatory requirements for systemically important financial institutions. The bank has also implemented significant personnel changes as part of its strategic review. Last month, Saxo appointed Andrew Bresler as CEO of Saxo UK, effective June 3. Additionally, Casper Andreas Solbakken was named Global Head of Commercial Offering and Experience, bringing over 18 years of experience at Saxo. He previously served as Global Head of Products, Pricing, and Platforms.

In May, Saxo Bank reorganized its operations by merging Global Sales and SXO into a new division called Group Commercial, aimed at enhancing efficiency and service delivery. Stig Christensen, the current Chief Sales Officer, will lead the new division as Chief Commercial Officer. Despite these strategic moves, Saxo Bank reported a decline in foreign exchange volumes early in June, with May figures falling to $79.6 billion, the lowest since the bank began releasing trading metrics in 2016, indicating a challenging period in market activity.

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