Saxo Bank announces review of strategic opportunities

PRESS RELEASE - 18 July 2024

The owners of Saxo Bank A/S ("Saxo”), a leading online platform for traders and investors, namely, Geely Financials Denmark A/S (“Geely”), a subsidiary of Zhejiang Geely Holding Group Co. Ltd, Fournais Holding A/S (“Fournais Holding”), and Mandatum Group ("Mandatum”) (collectively, the “Shareholders") have decided to initiate a review of strategic opportunities. The objective is to provide Saxo with the best possible foundation to continue its growth journey, serve clients and partners, and further develop its employees and company culture.

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. Since Geely and Mandatum1 invested in 2018, Saxo has experienced substantial growth and achieved several significant milestones. Today, more than 1.2 million clients entrust Saxo with over DKK 800 billion in client assets. This is an increase from fewer than 200,000 clients and a little more than DKK 110 billion in client assets just over five years ago. 

Saxo continues to execute on its strategic plan of becoming the preferred bank for investors, traders, and institutional partners in Europe, with a strong presence in MENA and APAC, and has welcomed more than 130,000 new clients year to date. In a testament to its robust financial health, 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).

Saxo and the Shareholders have collectively appointed Goldman Sachs International as financial advisor to assist them with the review of strategic opportunities. 

There can be no assurance regarding the results or outcome of the review of strategic opportunities. Subject to compliance with its ongoing disclosure obligations pursuant to applicable laws and regulations, Saxo undertakes no obligation to make any further announcements regarding the review of strategic opportunities unless and until final decisions are made.

1 The investment in Saxo was made by Sampo, the former parent company of Mandatum. Mandatum was separated from Sampo on 1 October 2023 through a partial demerger.

Goldman Sachs International, which is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority in the United Kingdom, is acting for Saxo and the Shareholders and no one else in connection with the strategic review ​ and will not be responsible to anyone other than Saxo and the Shareholders for providing the protections afforded to clients of Goldman Sachs International, or for giving advice in connection with the strategic review or any matter referred to herein.

Media contact

Share

Get updates in your mailbox

By clicking "Subscribe" I confirm I have read and agree to the Privacy Policy.

About Saxo Bank

About Saxo

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 150 financial institutions as partners by boosting the investment experience they can offer their clients (B2B2C). Keeping our headquarters in Copenhagen, Saxo has more than 2,300 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

 

Disclaimer

The Saxo Bank Group entities each provide execution-only service and access to Analysis permitting a person to view and/or use content available on or via the website. This content is not intended to and does not change or expand on the execution-only service. Such access and use are at all times subject to (i) The Terms of Use; (ii) Full Disclaimer; (iii) The Risk Warning; (iv) the Rules of Engagement and (v) Notices applying to Saxo News & Research and/or its content in addition (where relevant) to the terms governing the use of hyperlinks on the website of a member of the Saxo Bank Group by which access to Saxo News & Research is gained. Such content is therefore provided as no more than information. In particular no advice is intended to be provided or to be relied on as provided nor endorsed by any Saxo Bank Group entity; nor is it to be construed as solicitation or an incentive provided to subscribe for or sell or purchase any financial instrument. All trading or investments you make must be pursuant to your own unprompted and informed self-directed decision. As such no Saxo Bank Group entity will have or be liable for any losses that you may sustain as a result of any investment decision made in reliance on information which is available on Saxo News & Research or as a result of the use of the Saxo News & Research. Orders given and trades effected are deemed intended to be given or effected for the account of the customer with the Saxo Bank Group entity operating in the jurisdiction in which the customer resides and/or with whom the customer opened and maintains his/her trading account. Saxo News & Research does not contain (and should not be construed as containing) financial, investment, tax or trading advice or advice of any sort offered, recommended or endorsed by Saxo Bank Group and should not be construed as a record of our trading prices, or as an offer, incentive or solicitation for the subscription, sale or purchase in any financial instrument. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, would be considered as a marketing communication under relevant laws.

Please read our disclaimers:

Notification on Non-Independent Investment Research (https://www.home.saxo/legal/niird/notification)
Full disclaimer (https://www.home.saxo/legal/disclaimer/saxo-disclaimer)