Saxo Bank Announces sale of Saxo Privatbank and new strategic partnership
Today Saxo Bank announces the sale of subsidiary Saxo Privatbank, a fully licensed retail bank with branches across Denmark, to Alm. Brand, a Danish financial services group operating within non-life insurance, banking and life and pension insurance.
Saxo Bank has decided to accept an offer from Alm. Brand and will sell all activities in Saxo Privatbank pending regulatory approvals. Simultaneously Saxo will enter into a partnership with Alm. Brand Bank enabling the clients to trade and invest in stocks, bonds, ETFs and mutual funds through Saxo’s award winning platform SaxoTraderGO.
Commenting on the sale and partnership, Kim Fournais, Co-Founder & CEO, Saxo Bank A/S said: ”We have accepted an offer from Alm Brand because we believe this will create a win-win situation for both Saxo Bank, Alm. Brand and the clients of Saxo Privatbank. We also announce a strong partnership allowing all clients of Alm. Brand Bank to gain access to Saxo’s trading platform and global capital markets and it is a strategic decision to grow our business via partnerships globally. We are confident that Alm. Brand will be a valuable partner going forward and can ensure continuous development of Saxo Privatbank.”
Please see stock exchange release from Alm. Brand here.
Please see press release in Danish here.
At Saxo we believe that when you invest, you unlock a new curiosity for the world around you. As a provider of multi-asset trading and investment solutions, Saxo’s purpose is to Get Curious People Invested in the World. We are committed to enabling our clients to make more of their money. Saxo was founded in Copenhagen, Denmark in 1992 with a clear vision: to make the global financial markets accessible for more people. In 1998, Saxo launched one of the first online trading platforms in Europe, providing professional-grade tools and easy access to global financial markets for anyone who wanted to invest.
Today, Saxo is an international award-winning investment firm for investors and traders who are serious about making more of their money. As a well-capitalised and profitable Fintech, Saxo is a fully licensed bank under the supervision of the Danish FSA, holding broker and banking licenses in multiple jurisdictions. As one of the earliest fintechs in the world, Saxo continues to invest heavily into our technology. Saxo’s clients and partners enjoy broad access to global capital markets across asset classes on our industry-leading platforms. Our open banking technology also powers more than 200 financial institutions as partners by boosting the investment experience they can offer their clients. Keeping our headquarters in Copenhagen, Saxo has more than 2,500 professionals in financial centres around the world including London, Singapore, Amsterdam, Hong Kong, Zurich, Dubai and Tokyo.
For more information, please visit: www.home.saxo