Breaking: Saxo Bank Phases out Moscow, Two Other Offices as Part of Strategic Shift
- The Danish multi-asset brokerage is focusing on efficiency and spreads focus of its business on more partnerships
Saxo Bank has decided to phase out some of its direct operations in certain areas, namely within Eastern Europe. The Danish Multi-Asset Multi-Asset Composed of varying asset classes, multi-asset is a blanket designation combining different classes such bonds, equities, cash equivalents, fixed income, and alternative investments.When compared to traditional balanced funds, multi-asset solutions differ because they target specific investment outcomes. This includes outcomes such as return above inflation as opposed to gauging performance against standardized benchmarks.Given the composition of multi-asset classes, they need to be dynamically Composed of varying asset classes, multi-asset is a blanket designation combining different classes such bonds, equities, cash equivalents, fixed income, and alternative investments.When compared to traditional balanced funds, multi-asset solutions differ because they target specific investment outcomes. This includes outcomes such as return above inflation as opposed to gauging performance against standardized benchmarks.Given the composition of multi-asset classes, they need to be dynamically Read this Term brokerage has made some changes to the geographical footprint in Greece, Russia and Poland, with the services to existing and new clients from the areas remaining fully operational but delivered via other Saxo Bank locations. The company has closed its offices in Moscow, Athens and Warsaw as part of a strategic shift.
Many clients of the company are already serviced from the company’s global operating hubs and the changes will not result in a different customer experience or interaction with Saxo Bank. Clients will continue to be serviced in the client’s own language from a hub with an extensive expertise. Saxo Bank emphasizes reducing complexity and leveraging technology as essential in providing clients with the products and services they need.
Saxo Bank's CEO, Kim Fournais
Speaking to Finance Magnates, the CEO of the company, Kim Fournais said, “We are a digital business and we work with partnerships, so there are certain geographies where we think that it is better for us to work with White Labels White Labels White Labeling or white labels are an extremely common practice in the forex market, which implies one buying another firm’s product and then marketing it as its own. This is routinely done in the retail space, as white labeling is helpful in utilizing trading software, platforms, and other additional services that brokerages may offer.What Are the Benefits of White Labels?White labeling is very popular in the forex market given the benefits it bestows to all parties. This includes both the buye White Labeling or white labels are an extremely common practice in the forex market, which implies one buying another firm’s product and then marketing it as its own. This is routinely done in the retail space, as white labeling is helpful in utilizing trading software, platforms, and other additional services that brokerages may offer.What Are the Benefits of White Labels?White labeling is very popular in the forex market given the benefits it bestows to all parties. This includes both the buye Read this Term. Therefore we have decided to consolidate some of our services into fewer locations because we want to give more room to partners.”
“We don’t want to spread our resources too thinly. In some cases, a partner company can do better. We want to focus either on directly targeting clients or via white label partnerships,” Mr Fournais added.
The Danish multi-asset brokerage is making a strategic shift that is opening the door for the company to give more room to white labels in certain areas that are not the core focus of the company at this point in time.
“If the biggest financial institution in a given area asks us if we would like to engage in a partnership deal, Saxo Bank would always consider whether this will be the right opportunity for us, rather than targeting the market ourselves. That is very much part of our strategy and that is the more dynamic approach that we are taking with regards to our operations,” Fournais explained.
Finance Magnates has conducted an extensive interview with the CEO of Saxo Bank, Kim Fournais, and the long version of it will be published on the website tomorrow.
Saxo Bank has decided to phase out some of its direct operations in certain areas, namely within Eastern Europe. The Danish Multi-Asset Multi-Asset Composed of varying asset classes, multi-asset is a blanket designation combining different classes such bonds, equities, cash equivalents, fixed income, and alternative investments.When compared to traditional balanced funds, multi-asset solutions differ because they target specific investment outcomes. This includes outcomes such as return above inflation as opposed to gauging performance against standardized benchmarks.Given the composition of multi-asset classes, they need to be dynamically Composed of varying asset classes, multi-asset is a blanket designation combining different classes such bonds, equities, cash equivalents, fixed income, and alternative investments.When compared to traditional balanced funds, multi-asset solutions differ because they target specific investment outcomes. This includes outcomes such as return above inflation as opposed to gauging performance against standardized benchmarks.Given the composition of multi-asset classes, they need to be dynamically Read this Term brokerage has made some changes to the geographical footprint in Greece, Russia and Poland, with the services to existing and new clients from the areas remaining fully operational but delivered via other Saxo Bank locations. The company has closed its offices in Moscow, Athens and Warsaw as part of a strategic shift.
Many clients of the company are already serviced from the company’s global operating hubs and the changes will not result in a different customer experience or interaction with Saxo Bank. Clients will continue to be serviced in the client’s own language from a hub with an extensive expertise. Saxo Bank emphasizes reducing complexity and leveraging technology as essential in providing clients with the products and services they need.
Saxo Bank's CEO, Kim Fournais
Speaking to Finance Magnates, the CEO of the company, Kim Fournais said, “We are a digital business and we work with partnerships, so there are certain geographies where we think that it is better for us to work with White Labels White Labels White Labeling or white labels are an extremely common practice in the forex market, which implies one buying another firm’s product and then marketing it as its own. This is routinely done in the retail space, as white labeling is helpful in utilizing trading software, platforms, and other additional services that brokerages may offer.What Are the Benefits of White Labels?White labeling is very popular in the forex market given the benefits it bestows to all parties. This includes both the buye White Labeling or white labels are an extremely common practice in the forex market, which implies one buying another firm’s product and then marketing it as its own. This is routinely done in the retail space, as white labeling is helpful in utilizing trading software, platforms, and other additional services that brokerages may offer.What Are the Benefits of White Labels?White labeling is very popular in the forex market given the benefits it bestows to all parties. This includes both the buye Read this Term. Therefore we have decided to consolidate some of our services into fewer locations because we want to give more room to partners.”
“We don’t want to spread our resources too thinly. In some cases, a partner company can do better. We want to focus either on directly targeting clients or via white label partnerships,” Mr Fournais added.
The Danish multi-asset brokerage is making a strategic shift that is opening the door for the company to give more room to white labels in certain areas that are not the core focus of the company at this point in time.
“If the biggest financial institution in a given area asks us if we would like to engage in a partnership deal, Saxo Bank would always consider whether this will be the right opportunity for us, rather than targeting the market ourselves. That is very much part of our strategy and that is the more dynamic approach that we are taking with regards to our operations,” Fournais explained.
Finance Magnates has conducted an extensive interview with the CEO of Saxo Bank, Kim Fournais, and the long version of it will be published on the website tomorrow.