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Retail FX
Crypto Market to Reach $10T, USD to Drop 30% against Gold: Saxo’s “Outrageous Prediction”
2024-12-04T10:10:12.189+02:00
The “Outrageous Predictions” are highly unlikely to happen, but sometimes they come true.
Saxo accurately predicted the rise of Bitcoin and Brexit, among other events.
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Retail FX
Saxo and novobanco Collaborate to Drive Digital Investment Access in Portugal
2024-11-22T14:19:56.153+02:00
The collaboration improves novobanco’s services with advanced trading and analytical tools.
Portuguese investors are seeking digital solutions with diverse investment options.
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Executive Moves
Saxo Bank Splits Adam Reynolds’ Role after His Exit: Names Two Successors
2024-11-12T09:36:31.103+02:00
Reynolds, who previously held the role of APAC and Singapore CEO at Saxo, stepped down recently.
Now, Damian Hitchen is appointed as Regional Head of APAC and MENA, and Mahesh Sethuraman as the Singapore CEO.
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Retail FX
Saxo Bank Draws Acquisition Bids from Major Investors, Including Interactive Brokers
2024-10-21T17:21:22.172+02:00
Altor and Centerbridge have reportedly submitted non-binding offers for Saxo Bank.
Saxo Bank began exploring new ownership in July by appointing Goldman Sachs as its advisor.
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Brokers
Saxo UK Posts 7% Profit Gain as AUM Hits £2 Billion Mark
2024-10-16T09:17:28.164+02:00
Saxo's UK arm added 4,000 clients and reported a net profit of £11.2 million.
The trading revenue, however, remained relatively stable at almost £28 million.
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Retail FX
Saxo Expands Offerings for “Buy-and-Hold Investors”: Launches SaxoInvestor in the UK
2024-10-02T10:07:32.386+02:00
The new platform offers various instruments, including stocks, ETFs, bonds, and mutual funds.
It is offering low commissions and 0.25 percent FX fees.
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Retail FX
Saxo Closes Hong Kong and Shanghai Offices, Focuses on Singapore
2024-09-30T10:26:24.417+02:00
The firm cites “geopolitical changes” in Hong Kong as a key reason for the office closure.
The company posted a $4.3 million loss from its Hong Kong operations in 2023.
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Retail FX
Saxo Bank Reports 35% Profit Increase for H1 amid Restructuring
2024-08-29T13:27:40.675+02:00
The bank’s total income increased to EUR 311 million, despite low market volatility.
Client assets hit EUR 109 billion, with over 1.2 million clients as of June 2024.
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Retail FX
Saxo Bank Initiates Strategic Review Led by Major Shareholders
2024-07-18T14:44:10.644+02:00
The firm manages assets exceeding DKK 800 billion from over 1.2 million clients.
Goldman Sachs has been enlisted to advise during the strategic review process.
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Retail FX
Saxo Bank’s FX Trading Volume Hits Bottom Again in June: Daily Average Recovers
2024-07-04T09:11:20.042+02:00
The monthly volume with FX was $78.1 billion, while the daily average was $3.9 billion.
The overall monthly trading volume on the platform declined by 4.2 percent.
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Retail FX
Saxo Bank Initiates Asia Strategy Review, Seeks Partnerships
2024-06-17T10:23:46.255+02:00
Saxo is exploring new partners for its operations in Australia, Japan and Hong Kong.
The company aims to leverage own technology while allowing partners to use their brands.
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Retail FX
Saxo Bank’s FX Volume in May Hits Bottom, Equities Demand Falls from the Peak
2024-06-05T08:23:01.151+02:00
At $79.6 billion, the FX volume in May is the lowest since 2016.
Client assets on Saxo recently reached DKK 800 billion (about $116.1 billion).
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Executives
Saxo Appoints Andrew Bresler as UK CEO
2024-05-30T11:04:33.272+02:00
Bresler becomes Saxo UK's CEO on June 3, succeeding Simon Camilleri.
He brings experience from his previous roles at Saxo, Citibank, and InvestCloud.
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Saxo Bank Names Casper Solbakken as the Global Head of Commercial Offering and Experience
2024-05-22T21:29:50.405+02:00
Solbakken has worked for over 18 years at the Danish online trading and investment bank.
Since July last year, Solbakken was the Global Head of Products, Pricing, and Platforms.
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Retail FX
Saxo Bank Merges Sales and SXO Units, Names New Chief Commercial Officer
2024-05-21T19:49:52.948+02:00
This step aims to provide cohesive and efficient service to clients.
Stig Christensen, the current Chief Sales Officer, will lead the new entity as Chief Commercial Officer.
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Client Assets on Saxo Hit DKK 800 Billion
2024-05-17T10:23:40.489+02:00
The brokerage added DKK 650 billion in client assets in the last six years.
It has more than 1.2 million clients globally.
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Retail FX
Saxo's Ownership Change: Sampo Sells 19.8% Stake in the Brokerage
2024-05-08T10:56:57.091+02:00
The sale came as a part of the demerger process of Sampo and Mandatum.
The two companies have set the price of the transaction to EUR 302 million.
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Saxo Bank’s FX Volume Recovers in April, Equities Hit Record
2024-05-03T09:20:24.941+02:00
FX demand recovered by 16.6 percent month-over-month but still remains low compared to other months.
Meanwhile, the equities volume reached $303.7 billion, a record on the platform.
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Retail FX
Saxo Bank’s Co-Founder Invests in Crypto Trading Algo Firm
2024-04-23T07:51:07.690+02:00
The investment was made through Lars Seier Christensen’s investment arm.
Christensen divested his stakes in Saxo in 2017.
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Saxo Bank Contemplates €2B Sale, Seeks Investment Advisors: Report
2024-04-16T22:19:16.615+02:00
The Danish investment bank’s options include the sale of its minority or majority stake.
This latest development follows failed merger talks 18 months ago.
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Retail FX
Saxo Bank's Chief Economist Retires after 20 Years of Service
2024-04-04T10:40:14.903+02:00
Steen Jakobsen steps down, leaving a legacy of insightful research.
He was the architect of Saxo Strats and Outrageous Predictions.
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Retail FX
FX Demand on Saxo Bank in March Hits Lowest since at Least 2016
2024-04-04T08:26:19.298+02:00
The monthly volume of FX for March came in at $85.1 billion.
However, demand for equities picked up, with a month-over-month jump of 10 percent.
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Retail FX
S&P Upgrades Saxo Bank's Credit Rating: Broker Scores A-
2024-04-02T11:29:32.464+02:00
The rating agency updates Saxo's rating from BBB due to the solid profitability.
A- is one of the seven highest ratings awarded by S&P.
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Executive Moves
Saxo Bank Gets New COO for MENA Region with an Internal Promotion
2024-03-22T09:28:19.708+02:00
Tara Tyan has been a part of Saxo Bank for about six years.
She also worked at Equiti, FxPro, and Easy Forex.
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Brokers
FX Demand on Saxo Bank Drops in February: Lowest in 2 Years
2024-03-05T11:14:49.161+02:00
The forex volume for the month fell 15.4 percent month-over-month.
While the forex daily average dropped, the figure remained the same or increased for other asset classes.
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