Saxo Bank Expands Operations and IT Teams in India

Saxo Bank is continuing with the expansion of its operational and IT base in India. The company has officially opened

Saxo Bank is continuing with the expansion of its operational and IT base in India. The company has officially opened its new office space in Gurugram. The satellite city of New Delhi is housing 500 Saxo Bank employees.

The new office space was officially opened on Thursday and spans across 125,000 square feet. The move continues the Danish multi-asset brokerage company’s investments in the development of new technology.

Saxo Group India, which is a part of the Saxo Bank Group, plans to increase its headcount by 20 percent in 2018.

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Further IT Investments

Saxo Bank established its presence in India back in 2010 via an acquisition. The team which is focused on IT and operations works with the Copenhagen headquarters of the company.

The company is committing more investments to IT in alignment with its goal to digitize the whole value chain by leveraging new technology. Over the next couple of years, the company plans to hire another 200 employees in India.

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“The new office in Gurugram provides an inspiring environment to accommodate our ambitious strategic plan of growing our team,” said the COO of Saxo Group India Deepak Gupta.

The company’s goals are aligned with major trends in technological development. The firm’s priorities include further cloud development as well as the use of machine learning and artificial intelligence.

“We usually say that Saxo Bank is an IT-company with a banking license. Despite being more than 25 years old, Saxo has never stopped thinking like a start-up, and we are truly agile in how we embrace new developments and innovation,” elaborated the CEO of Saxo Bank, Kim Fournais.

Saxo Bank Size of Operations

With over 1,600 employees across the globe and offices in 16 countries, Saxo Bank continues to invest in the development of its infrastructure. The firm executed over 43.3 million trades for its clients in 2017.

The significant expansion of the company’s staff in India over the past several years is set to continue. The team led by Deepak Gupta was expanded from 280 employees at the end of 2013 to over 500 at present.

The near-term plan is for the Denmark-headquartered company is to reach a figure of 700 over the next couple of years.

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